Reserve Bank pays respect to Queen Elizabeth by flying interest rate raise at half-percent

The passing of Queen Elizabeth II has been a shock to the world. Australia is particularly close to the royal family, and many organisations today will be flying their flags at half-mast as a sign of respect. The Reserve Bank of Australia however, has taken quite a different approach.

“It was the right thing to do,” claimed a RBA board member.

“Out of respect for the Queen, we will be raising interest rates by half a percent, rather than the planned full percent. We know times are tough, and we’d really like to keep increasing the rate by at least 1%, but it’s customary during these times of mourning to raise it by only half a percent,” he continued.

The RBA has stated that this small increase is only a temporary measure, and that next interest rate rise will be significantly higher.

The Riverlanderer will update as this story develops.

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