Australian central bank raises key rate to 3.1%

By Associated Press

Dec 07, 2022 12:20 am

WELLINGTON: Australia's central bank has raised its benchmark interest rate by a quarter-point to 3.1 percent as it continues trying to wrestle down inflation.

The increase was the bank's eighth in a row and took the rate to its highest level in 10 years.

People arrive at the Reserve Bank of Australia in Sydney on Tuesday, Dec. 6, 2022. AP PHOTO

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