RBA announces sixth consecutive interest rate hike | 9 News Australia

9 News Australia published this video item, entitled “RBA announces sixth consecutive interest rate hike | 9 News Australia” – below is their description.

The Reserve Bank of Australia (RBA) has lifted the nation’s cash rate target for a sixth consecutive month as the central bank battles to lower spiralling inflation.

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About This Source - 9 News Australia

9 News Australia has delivered breaking news, features and exclusive news from around Australia and the world into homes since 1956. In December 2013, Nine Entertainment listed on the ASX, trading as ASX: NEC.

In November 2020, Nine Entertainment relocated from Willoughby where it had been based for 64 years to North Sydney.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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