- Australia’s central bank on Tuesday raised interest rates by the most in 22 years and flagged more tightening to come as it battles to restrain surging inflation, stunning markets and sending the local dollar flying.
- Wrapping up its June policy meeting, the Reserve Bank of Australia (RBA) lifted its cash rate by 50 basis points to 0.85%, wrong footing investors who had wagered on a move of either 25 or 40 basis points.
- The central bank had already lifted rates by a quarter point in May, the first increase since 2010, and many had thought it would stick to quarter-point moves. The last time it hiked by more was in early 2000.
Help Support Independent Media, Please Donate or Subscribe: Trending:
- TERMINATORS: Killer robots join Ukraine’s line of defense against Russian troops
- Left calls for war in all rural areas says cops cant do nothing
- Whoa! More negative wealth effects coming down the pipe…big recession ahead
- WTF, Who Is Running Our Country?
- Percent change in home sales in total (YoY) and percent change in sales by home price level
- Fed throws Biden under the bus, says hes collapsing the country
- The Biggest Temper Tantrum In U.S. History Has Begun
- The collapse in consumer sentiment is definitive proof that social mood is rolling over. Hard. So far, the declines in stocks have been bought ALL the way down. Each rally has been shorter than the last.
- New Data Shows Massive Drop in Birth Rates After Covid 19 Vax Campaign
- Congressman Jim Jordan gets Debbie Birx to admit the truth…
See also Winter Is Coming 2! Mortgage Rates Hit 6%, Gasoline Prices Hit $5, Inflation Continues To Rage (Taylor Rule Implies 22.10% Target Rate, Only At 1.75%)