Tag: reserve bank of australia
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Reserve Bank could raise interest eight times in two years
A former board member of the Reserve Bank of Australia has warned that interest rates could be raised up to eight times in the next two years, pushing mortgage costs through the roof and threatening the regained stability of Australia’s economy. John Edwards made the claim in a paper written for the Lowy Institute, an…
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Australia is becoming a cashless society
Australia is well on its way to becoming a cashless society. There are more and more people using smartphone apps such as ApplePay to pay for everyday transactions online instead of carrying cash. Australians are increasingly turning to digital means to arrange and pay for everyday tasks, such as using apps like Deliveroo to get food delivered…
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Australian dollar surges above US 77c
The Australian dollar has reached its highest point in two years in the wake of a weakened US dollar and an increase in commodity prices. The Australian dollar is now worth over US 77 cents, reaching a high point of 77.07 US cents, which is an increase of 2%. The surge comes in the wake of…