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RBA lifts rates to highest level in 15 years – risking a sharper slowdown of the economy

By Stella Huangfu, Associate Professor, School of Economics, University of Sydney

The Reserve Bank of Australia has raised the cash rate to 4.6% from 4.35%, taking the key rate to its highest level since late 2011 as it battles persistent inflation.

The fourth rate hike this year will add about A$120 a month to the average mortgage of $730,000. Over the course of the year, the four rate rises…

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