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In response to persistent inflation and in a show of Australia's economic resilience, the Reserve Bank of Australia (RBA), under Governor Michele Bullock, has raised interest rates to 4.35%, a 12-year high, after a four-meeting pause. This widely anticipated move has resulted in financial stress for almost half of Australian mortgage holders. The RBA has also signaled a higher hurdle to further tightening, tempering its previously hawkish stance. Concurrently, the Bank of Korea intends to maintain elevated interest rates for another year to control inflation. Jason Cummins of Brevan Howard foresees a 'new abnormal' period of higher, volatile inflation and structurally higher interest rates.
Australia's central bank raises rates to 12-year high, tempers hawkish stance https://t.co/NNqa1dUJ4Z https://t.co/dtTmSBhGmt
The RBA lifts rates to a 12-year high after four months of pauses, marking Governor Bullock's first hike since taking over https://t.co/VivsCuM5s9
⚠️ AUSTRALIA'S CENTRAL BANK RAISES RATES TO 12-YEAR HIGH, TEMPERS HAWKISH STANCE Full Story → https://t.co/tUTSxse1Pi
BREAKING: The RBA lifts rates to a 12-year high after four months of pauses
BREAKING: The RBA lifts rates to a 12-year high after four months of pauses, marking Governor Bullock's first hike since taking over https://t.co/vmrzBVAazl
RBA Raises Key Rate to 4.35% as Seen by 29 of 32 Economists https://t.co/rNwyOCMUnk
Australia’s central bank resumed raising interest rates on Tuesday in a widely anticipated move, while signaling a higher hurdle to further tightening, sending the currency lower https://t.co/Rp0Wtmt0yG
Australia’s central bank resumed raising interest rates on Tuesday in a widely anticipated move, while signaling a higher hurdle to further tightening, sending the currency lower https://t.co/IoH8hEXehA
RBA Raises Key Rate to 4.35% as Seen by 29 of 32 Economists https://t.co/sXtwIzDWcO
RBA Raises Key Rate to 4.35% as Seen by 29 of 32 Economists https://t.co/xaiSX3TOii
(New from me): Reserve Bank hikes interest rates by 25 basis points to 4.35% in blow to borrowers https://t.co/CoGLrZxwXw
*RBA RAISES CASH RATE TARGET BY 25BPS TO 4.35% FROM 4.10%
RBA RAISES CASH RATE TARGET BY 25BPS TO 4.35% FROM 4.10%
🔴 ⚠️ BREAKING: RBA CASH RATE ACTUAL 4.35% (FORECAST 4.35%, PREVIOUS 4.10%) $MACRO
(New from me): Almost half of Australian mortgage holders under financial stress as RBA tipped to raise rates again https://t.co/iecbQ5pWKe
The RBA is set to hike by 25 bps to a 12-year high of 4.35%, its first increase under Governor Michele Bullock https://t.co/QR8jjZSTDY
(New from me): Interest rate rise would see almost half of Australian mortgage holders under financial stress https://t.co/iecbQ5quzM
Financial struggles grip majority of Australians amidst interest rate rises https://t.co/1A86cZSEK7 https://t.co/gtD3BISOCs
'In retrospect, the new normal looks like a unique period of historically depressed interest rates after the financial crisis. In the future, investors will have to learn anew how to operate without a fiscal or monetary safety net.' https://t.co/cqgcbdkYJC https://t.co/JLrCdIho8O
Brevan Howard's chief US economist on the “new abnormal” - a period he predicts will be characterised by higher and more volatile inflation as well as a return to structurally higher interest rates https://t.co/J3qihiO7R4
The Bank of Korea will probably keep interest rates elevated for another year to ensure inflation is brought under control, a former board member said, warning markets against rallying on premature expectations for a policy easing https://t.co/1blwgnov5h
The Bank of Korea will probably keep interest rates elevated for another year to ensure inflation is brought under control, a former board member said, warning markets against rallying on premature expectations for a policy easing https://t.co/FzUUaEBuHh
The Bank of Korea will probably keep interest rates elevated for another year to ensure inflation is brought under control, a former board member said, warning markets against rallying on premature expectations for a policy easing https://t.co/NOD80kt7U2
Michele Bullock is poised to deliver her first rate hike as RBA Governor. Read today's Australia Briefing for your daily dose of the best of Bloomberg from Down Under and around the world. https://t.co/UfNTF5LQMO
(New from me): If interest rates rise again, it may be because inflation fears lost their anchor to reality https://t.co/cNSaQ1Ypyl
Jason Cummins at Brevan Howard: The “new normal” looks like a unique period of historically depressed interest rates. The “new abnormal” will be characterised by higher and more volatile inflation and a return to structurally higher interest rates. https://t.co/9v0BvdUfz9
Australia’s central bank is forecast to raise interest rates on Tuesday, ending a four-meeting pause as persistent inflation and broader economic resilience suggest a further clampdown is needed to cool prices https://t.co/hgUGvTQGnX
Australia’s central bank is forecast to raise interest rates on Tuesday, ending a four-meeting pause as persistent inflation and broader economic resilience suggest a further clampdown is needed to cool prices https://t.co/0n4yNDLVSg
Australia’s central bank is forecast to raise interest rates on Tuesday, ending a four-meeting pause as persistent inflation and broader economic resilience suggest a further clampdown is needed to cool prices https://t.co/kqOYKFgHn4