Australia raised interest rates in a bid to control inflation amid an export boom.
The country’s Reserve Bank raised rates to 4.75 % from 4.5%, surprising most analysts, The Associated Press reported.
Booming demand for Australian minerals from Asian countries including China and South Korea has stoked Australian inflation.
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Australia Raises Interest Rates to Control Inflation originally appeared on DailyFinance on Tue, 02 Nov 2010 06:36:00.