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Australia central bank raises rates, more expected

• Reuters
Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.

The Australian dollar jumped to a 14-month high and interbank futures slid as investors rushed to price in at least one more hike by Christmas, and rates above 4 percent in a year.

Markets elsewhere in Asia also moved to factor in expectations for more hawkish central banks.

 

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