for the first time in three years, sparking criticism that the move will throw cold water on the country’s already glacial economic growth.
The 25 basis point hike — announced last week amid mounting inflation risks — comes ahead of another important event on the domestic calendar: the release of the country’s jobs data, which for each quarter since the advent of the Covid-19 pandemic has indicatedCritics of the Reserve Bank’s inflation-targeting mandate have pointed out that the interest rate hike may only add to the country’s unemployment woes.
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