Australian Reserve
At the MPC meeting on Tuesday morning, November 1, decided Bank the reserve Australian It raised the interest rate by 25 basis points for the second time in a row, as indicated by market expectations, bringing the official interest rate to the Reserve Bank of Australia at 2.85%, up from 2.60% approved by the Bank at its previous meeting in August.
The decision to raise interest rates for the seventh consecutive time by the Reserve Bank of Australia was aimed at controlling the high inflation in Australia, but the Bank has started to slow the pace of raising interest rates since its previous meeting, as nearly a third of homeowners in Australia are struggling to meet their mortgage payments. their homes, amid high interest rates.
According to estimates by the Reserve Bank of Australia, interest rates may reach 3.85% next year, and despite its expectations that the inflation rate will reach nearly 8% by the end of 2022, which is the highest level in more than 3 decades since the start of recording the series, but the Reserve Bank The Australian may start heading to slow the pace of monetary tightening to limit the exacerbation of the negative effects on the economy.
