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The article reports on the move of Australian legislators to intensify their efforts against inflation in 2008 amid the country's economic expansion. Reserve Bank of Australia has increased its benchmark interest rate to 7%, which is the highest level since 1996. It cites the increase in export revenue in the country as coal and iron-ore producers lock in price hikes of as much as 70% from steel mills and energy suppliers in Japan, China and South Korea. It notes the difficulty facing exporters as interest rates increase.