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Interest rates go up... but will it fix inflation?
Interest rates go up... but will it fix inflation? Source: AAP / Praba Maheswaran (Western Sydney LHD)
The Reserve Bank of Australia has lifted the official cash rate by 50 basis points, the fifth consecutive increase in a row. For the past decade - a generation of borrowers were experiencing falling or steady interest rates - but now - they've been hit with a succession of rate rises. With many Australian families already feeling the constraints of cost of living pressures, the R-B-A's announcement packs an extra pinch. That story by Hannah Kwon and Felicity Davey for SBS News, produced by Praba Maheswaran for SBS Tamil.
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