Australia’s central bank raised interest rates by 25 basis points to 0.35 percent on Tuesday, a pre-election hike designed to tame soaring consumer prices. In an article published by the AFP news agency, and which you can read in full on the News Blog page of the Future Media website, Prime Minister Scott Morrison, who is trailing in the polls, said he sympathised with mortgage borrowers who would now face rising costs following the first rate increase in the country in more than a decade. But he insisted Australia is faring better than its peers and that rising inflation is a result of worldwide trends.
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