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ASX 200 Closes Higher Despite RBA Lifting Cash Rate to 4.85 Per Cent
ASX 200 Closes Higher Despite RBA Lifting Cash Rate to 4.85 Per Cent
Australian shares bounced back on Tuesday in a volatile session for investors as the RBA voted to lift interest rates, with the sharemarket closing higher. The ASX 200 recorded better than expected gains, finishing 30.3 points up – or 0.34 per cent – at 8886.8, while the All Ordinaries rose 30.7 points, or 0.35 per cent, to finish at 9008.9.
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ASX 200 Closes Higher Despite RBA Lifting Cash Rate to 4.85 Per Cent
Australian shares closed higher on Tuesday in a volatile session after the Reserve Bank of Australia voted to raise the cash rate to 4.85 per cent. The ASX 200 finished 30.3 points, or 0.34 per cent, up at 8886.8. The All Ordinaries rose 30.7 points, or 0.35 per cent, to close at 9008.9. Gold prices were reported to be low during the session. The gains were better than analysts had expected, despite the rate increase weighing on investors.