Australia’s central bank opens door to tightening amid price pressures

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Australia’s central bank has opened the door to its first interest rate hike in more than a decade. In its monetary policy decision today, the Reserve Bank dropped a previous pledge to be patient, lifting the Aussie dollar to a nine-month high against the greenback. The RBA left its key rate steady, but implied an earlier rate rise, which analysts said could possibly be in August. That will mean no rate rise before the national election that’s tipped for May.

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