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The Independent UK
The Independent UK
National
Via AP news wire

THE TRUTH ABOUT: Australian central bank boosts cash rate to 4 1 with 12th hike - The Untold Story

Australia Philip Lowe Inflation
Copyright 2023 The Associated Press. All rights reserved.

Australia’s central bank on Tuesday lifted its benchmark interest rate for a 12th consecutive time, to 4.1%, and warned further rises could follow.

The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point at its latest monthly meeting. That followed a higher-than-expected 6.8% annual inflation rate reported for the January-March quarter.

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