RBA board split but majority backed raising interest rates to 18-year high
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The RBA board voted 6-3 in favor of raising interest rates to an 18-year high. This outcome was a major surprise. The result suggests a split within the bank regarding the direction of interest rates.
In a major surprise, the vote was 6-3 in favour of the hike, suggesting there is a split in parts of the bank about the direction of interest rates.