Reserve Bank: At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 85 basis points. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 75 basis points. Statement by Philip Lowe, Governor: Monetary Policy Decision Date 7 June 2022 At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 85 basis points. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 75 basis points. Inflation in Australia has increased significantly. While inflation is lower than in most other advanced economies, it is higher than earlier expected. Global factors, including COVID-related disruptions to supply chains and the war in Ukraine, account for much of this increase in inflation. But domestic factors are playing a role too, with capacity constraints in some sectors and the tight labour market cont...
Putin, I extend greetings to all Christians on the day of Christ’s Resurrection
Vladimir Putin greeted Orthodox Christians and all citizens of Russia celebrating Easter Sunday. With great sincerity, I extend greetings to all Christians on the day of Christ’s Resurrection, the great holiday of Easter. I know that members of all religious denominations and followers of all traditional religions in Russia will join me in these greetings. This year celebrations are being held under mandated restrictions. They are necessary to fight the spread of the coronavirus infection, a disease that is by now known throughout the world. By joining efforts, together we are overcoming challenges as they emerge. And as I have repeatedly said, we have everything we need for this – a healthy and strong economy, scientific capabilities, the necessary material base and highly professional healthcare. We are carefully monitoring the experience of foreign countries and are engaged in active cooperation with our foreign friends and colleagues. We are aware of what is going on and see the ri...
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