RBA raised interest rates on 07 NOV 2023
The Reserve Bank of Australia - RBA raised interest rates on 07 Nov 2023. RBA made a significant move by raising the cash rate target by 25 basis points to 4.35 percent. Additionally, the interest rate paid on Exchange Settlement balances also saw an increase of 25 basis points to 4.25 percent. This decision has raised eyebrows and generated discussions regarding the reasons behind this rate hike and its potential impact on Australia's financial landscape.