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RBA hikes interest rate to a 12-year high of 4.35% in November

The Reserve Bank of Australia (RBA) board members decided to raise the Official Cash Rate (OCR) from 4.10% to 4.35%, following the conclusion of the November monetary policy meeting on Tuesday. The RBA’s ninth governor, Michele Bullock, presented the monetary policy statement, with the key highlights noted below. Board remains resolute in its determination to return inflation to target.
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