Reserve Bank of Australia Raises Interest Rates

Submitted by Craig Strzelecki on 3 May, 2006 - 09:12

The Reserve Bank of Australia (RBA) Raises Interest Rates by 25 basis points to 5.75 per cent; Aussie dolar spikes: The Reserve Bank of Australia (RBA) raised the interest rates for Australia by 25 basis points to a 5 year high and the first . Lifting the benchmark official cash rate to 5.75 per cent from 5.5 per cent credit tightening in 14 months. The Aussie dollar spiked 50 pips on the announcement of the interest rate rise at 9.30am AEST, hitting US$0.7660 cents.