RBA lifts interest rates to 3.6 per cent 11-year high

- Consumer spending: Changes in interest rates can impact the borrowing costs for consumers, affecting their willingness to spend. When interest rates are low, consumers may be more likely to borrow money for purchases like houses, cars, or other investments. This can stimulate economic growth and increase consumer spending.
- Business investment: Similarly, changes in interest rates can affect the cost of borrowing for businesses, which may impact their willingness to invest in new projects or expand their operations. Lower interest rates may make it easier for businesses to access credit and invest in growth.
- Currency exchange rates: Interest rate changes can also affect the exchange rate of the Australian dollar relative to other currencies. If the RBA raises interest rates, it can make the Australian dollar more attractive to foreign investors, leading to an appreciation in its value.
- Inflation: One of the primary goals of the RBA is to keep inflation within a target range of 2-3%. Interest rates can impact inflation by affecting the demand for goods and services. If interest rates are low, it can stimulate demand and potentially increase inflation. Conversely, if interest rates are high, it can slow down demand and potentially lower inflation.
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