Interest rates hiked for the third time this year | The Business | ABC NEWS
The Reserve Bank has delivered its third consecutive rate hike this year, but its governor Michele Bullock signalled the central bank now has time to wait and see how the Middle East war is affecting the economy.
The RBA governor says the rate rises were necessary as inflation was already too high, even before the conflict broke out.
While Ms Bullock acknowledges people are “feeling poorer” as a result of mounting cost-of-living pressures, she is not expecting a recession in the foreseeable future.
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