RBA lifts interest rate by 25bps

Australia has become the first western economy in the world to lift interest rates with the Reserve Bank of Australia today increasing the official cash rate by 25 basis points.


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Far be it for me to say, but watch Australia slow down now! Ecconomies like US, UK and Europe are still wallowing in the mess of this Financial Crisis. Our unemployment will continue to rise, and this move by the RBA will only create more problems in the unemployment arena. We may think we look good, but Australia hs never had a bigger debt in its history and this legacy will create more unemployment and be with us for many years to come. This is a very short sighted move! The only ones who will benefit from this will be the big 4 Banks who are being guaranteed by the Australian Tax Payer. They can not go wrong! Watch them "scurry" to put their rates up!

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