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Australia’s Central Bank Raises Rates, but a Pause Could Be Coming
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SYDNEY—Australia’s central bank raised interest rates for the 10th consecutive time, but indicated there had been progress made in taming inflation and that increases could be nearing an end.On Tuesday, the Reserve Bank of Australia raised its official cash rate by a quarter point to 3.60%, the highest level in more than a decade.
But it said the monthly consumer-price index suggested that inflation had peaked and the bank tempered language surrounding its plans for further monetary tightening.
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