Australia's central bank raised its benchmark rate by a quarter-point and tweaked its forward guidance triggering expectations for more hikes.
At the first board meeting of the year, the Reserve Bank of Australia policymakers decided to lift the cash rate target by 25 basis points to 3.35 percent. The rate decision came in line with expectations.
The interest rate on Exchange Settlement balances was also raised by 25 basis points to 3.25 percent.
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by Renju Jaya
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