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Interest rates

Australian central bank lifts interest rate in over decade

After dropping interest rates down to historic low levels during the Covid-19 pandemic, the Reserve Bank of Australia (RBA) has lifted interest rates by 0.25 to 0.35 per cent, the first rise since 2010, in an effort to calm growing inflation.

Central banks cannot be equitable

The rich can borrow cheaply because they have collateral,whereas the poor pay much higher interest rates because of higher credit risks