RBA Raises Rates to 18‑Year High as Prime Minister Travels Abroad
Australia's central bank delivers its fifth hike this year, while PM Albanese defends his record from a Caribbean island.
The Reserve Bank of Australia held its scheduled meeting on Tuesday and was expected to push interest rates to an 18‑year high.
When the decision was announced, it marked the fifth rate hike of the year, matching the forecasts of economists surveyed by Reuters.
Prime Minister Anthony Albanese, currently in Saint John’s, Antigua and Barbuda for a Commonwealth summit at the request of King Charles, defended his government’s record, saying, “We work each and every day on cost of living. What I recognise as well is that by engaging in the world, we can deal with our national security interests, but also make our economy stronger.”
Original reporting
The Guardian
RBA interest rates live: Reserve Bank of Australia meeting today before cash rate decision and announcement – latest news
Reserve Bank is expected to raise interest rates to an 18-year high on Tuesday, the fifth hike this year Get our breaking news email, free app or daily news podcast Anthony Albanese defended his government’s record in the face of a likely rate hike. The prime minister is in Saint John’s, Antigua and Barbuda, for the Commonwealth heads of government meeting at the request of King Charles. We work each and every day on cost of living. What I recognise as well is that by engaging in the world, we can deal with our national security interests, but also make our economy stronger. That’s why we need…
Read the original →CNBC
Australia hikes rates to 18-year high to fight inflation
The Reserve Bank of Australia's decision was in line with expectations from economists polled by Reuters, and marked its fifth rate increase this year.
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Facts this version was allowed to use
- The Reserve Bank of Australia held a meeting and was expected to raise interest rates to an 18-year high on Tuesday.
- The Reserve Bank of Australia decided to raise interest rates to an 18-year high.
- The rate increase was the fifth hike this year.
- The Reserve Bank of Australia's decision was in line with expectations from economists polled by Reuters.
- Anthony Albanese is the prime minister of Australia.
- Anthony Albanese said: "We work each and every day on cost of living. What I recognise as well is that by engaging in the world, we can deal with our national security interests, but also make our economy stronger."
- Anthony Albanese defended his government's record in the face of a likely rate hike.
- Anthony Albanese is in Saint John's, Antigua and Barbuda.
- Anthony Albanese is attending the Commonwealth heads of government meeting at the request of King Charles.
- The Reserve Bank of Australia meeting and expected rate decision took place on Tuesday.
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