RBA raises interest rates

Announcement by Stuff.co.nz - 3rd of March 2010 - 10:00 AM

Australia's central bank has increased the official interest rate by
25 basis points saying growth is likely to be near trend and inflation
close to target over the coming year.

The Reserve Bank of Australia (RBA) raised the cash rate to 4.00 per
cent, the highest since February 2009, from 3.75 per cent after its
board meeting on Tuesday.

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