The Reserve Bank of Australia may raise interest rates
The Reserve Bank of Australia raised its cash rate to 4.85 percent on Tuesday, its highest level in 18 years. The rate hike is the fifth this year, with inflation expected to remain high through 2027.
- The Reserve Bank of Australia hiked its cash rate target by a quarter of a percentage point to 4.85 percent.
- The RBA board said inflation was forecast to remain high throughout much of 2027.
- The central bank's rate hike is the fifth this year.
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