Reserve Bank of Australia raises rates for third consecutive meeting, lifting them to early-2025 levels
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The Reserve Bank has delivered a third straight interest rate hike to contain growing inflationary pressures linked to higher fuel prices, even as it warned the Iranian war would deliver a major blow to the economy.
The widely expected decision to lift the cash rate to 4.35%, from 4.1%, comes as the central bank revealed a gloomy new set of forecasts that showed intensifying cost of living pressures alongside weaker growth.
Continue reading...This article was originally published by The Guardian and written by Patrick Commins and Luca Ittimani.
Read original article on The Guardian