On February 7, 2023, the Reserve Bank of Australia (central bank, RBA) announced its decision to raise interest rates by 0.25 percentage points, from 3.1% to 3.35%, the highest over the past 10 years to control inflation. This is the ninth straight rate hike, adding to pressure on Australian households already struggling with the cost of living crisis. Photo: Australian dollar. Photo: AFP/VNA
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