The Reserve Bank of Australia raised its main rate last month (the equivalent of the Federal Funds Rate) from 3.0 to 3.25%. This month they've done it again. From the NYT:
"The increase in its main cash rate by a quarter of a percentage point, to 3.5 percent, makes Australia the only country to have ventured two successive rate increases this year...Norway and Israel have also begun to nudge up the cost of borrowing again. Each has raised its main rate by a quarter of a percentage point in recent months, reflecting the relatively robust recovery that those countries have enjoyed this year...The recovery in Australia has been aided both by the country’s stimulus measures and by its proximity to the fast-growing economies of Asia, notably China..."
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