Bank of Australia has raised rates by 25 basis points to 3,50%

At the meeting on Tuesday, 3 November, the monetary policy the Reserve Bank of Australia has raised the key interest rate by 25 basis points to 3.50%. This decision was predicted by most analysts.
Glenn Stevens, head of the bank in its statement after the meeting indicated that economic conditions in Australia have improved greater than predicted earlier, the confidence indicator recovered. The volume of investment will grow in the medium term. Signs of recovery in the labor market. The increase in unemployment has slowed.
Inflation will moderate decline in the coming months, but did not fall to the previously forecasted values. Consumer price index and core inflation back to target levels in 2010.
The head of the Bank also stated that "because the risk of a serious economic recession in Australia is already behind us, the Committee on monetary policy the Reserve Bank of Australia should be gradually reduced measures of monetary stimulus, taken earlier. The adjustment in the October and November meeting should support moderate growth in economic activity and inflation targeting in the years ahead. "