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Reserve Bank Raises Cash Rate to 4.6%, Marking Highest Level Since 2011

Reserve Bank Raises Cash Rate to 4.6%, Marking Highest Level Since 2011

The Reserve Bank of Australia has raised its key interest rate to 4.6%, marking the highest level since 2011. The decision, which lifts the rate from 4.35%, was widely anticipated by markets and economists.

This move represents the fourth interest rate increase this year. The hike is expected to significantly increase repayment costs for millions of mortgage holders across Australia, adding further financial strain to households already facing elevated borrowing expenses.

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