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Statement by Philip Lowe, Governor: Monetary Policy Decision – September 2022
By upwealth
In
Economic Update
At its meeting today, the Board decided to: increase the cash rate target by 50 basis points to 2.35 per cent increase the interest rate on Exchange Settlement balances by 50 basis points to 2.25 per cent. The Board is committed to returning inflation to the 2–3 per cent range over time. It is seeking to do this while keeping the economy on an…