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Reserve Bank shocks mortgage borrowers with rate rise | The Business | ABC News

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The Reserve Bank of Australia has surprised mortgage borrowers, economists,and financial markets by raising interest rates for the eleventh time in a year. It has lifted the cash rate by a quarter of a percentage point to to 3.85 per cent. RBA Governor Philip Lowe said the price of goods is moderating but services are still very high, so further rates rises could be ahead.

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Category
News and politics
Tags
Australia, abc news, inflation

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