Treasurer.il.gov icash
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“The board expects to increase interest rates further over the months ahead, but it is not on a pre-set path. “The further increase in interest rates today will help bring inflation back to target and create a more sustainable balance of demand and supply in the Australian economy,” Lowe said in a statement. Australian inflation is running at 6.1% and the Treasury Department expects it to peak at 7.75% in the December quarter. Property is returned at no cost with the proper identification. The State holds these lost funds until they are claimed by either the original owner or their heirs. Philip Lowe said there were more rate hikes ahead at monthly board meetings as directors attempt to reduce inflation to a target band of 2% to 3%. The State Treasurer is holding 2.5 billion dollars in unclaimed funds for Illinoisans. 2015, when the bank cut the rate from 2.5% to 2.25%.
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When the bank lifted the rate by a quarter percentage point at its monthly board meeting in May, it was the first rate hike in more than 11 years. The Reserve Bank of Australia’s decision was the cash rate’s fourth consecutive hike of half a percentage point. CANBERRA, Australia (AP) - Australia’s central bank on Tuesday boosted its benchmark interest rate for a fifth consecutive month to a seven-year high of 2.35%.