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Did the Australia Central Bank react correctly by raising rates to 3.5%?

April 26, 2017Australia Bank correctly raising rates react

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Did the Australia Central Bank react correctly by raising rates to 3.5%?

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Australia housing prices have rallied in 2009. Australia CB fearing housing price inflation raised rates. Housing prices were up 8% from 2008. Australia and Israel have both raised rates indicating their economies are recovering. The Australian dollar is up 23 percent in 2009.