: Aussie dollar, bond yields surge after central bank’s surprise rate hike


Australian government bond prices plunged and the country’s currency surged after the central bank surprised markets on Tuesday with another rate hike.

The Reserve Bank of Australia raised its benchmark borrowing costs by 25 basis points to 3.85% after traders had expected no move.

The RBA said inflation, which is running at an annual rate…

This article was originally published by Marketwatch.com. Read the original article here.

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