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On May 5, the Reserve Bank of Australia raised interest rates for the third time this year to 4.35%, citing persistent inflation driven by rising fuel costs and warning of potential economic repercussions from ongoing geopolitical tensions in the Middle East. #AustraliaEconomy #Inflation #InterestRates #AU #US #IR
www.reuters.com
Australia central bank hikes rates for third time this year in battle with inflation
SYDNEY, May 5 (Reuters) - Australia's central bank lifted rates for a third time this year on Tuesday, returning borrowing costs to post-pandemic highs and warning that inflation would remain sticky as the conflict in the Middle East unleashed a global oil shock.