Australia raises interest rates

Australia became the first OECD nation to raise interest rates on Tuesday when its central bank increased the official cash rate from 3 percent to 3.25 percent.
The raise of the interest rates is a result of the strong raise of the value of the Australian Dollar, one the world’s most actively traded currencies. In fact Israel was the first country that has increased its interest rates but the Australian raise is seen as more significant due to the size of the country’s economy.
This means that the Australian, as well as the global economy is growing and that the very weak economic conditions are stabilizing.



Laurens Driegelinck