Australia’s central bank delivered a ninth consecutive increase in interest rates and signaled there are more to come
SYDNEY—The Reserve Bank of Australia delivered a ninth consecutive increase in interest rates and signaled more to come, suggesting global central banks are headed down different paths as their battle with inflation enters a new phase.
The latest increase of 0.25 percentage point took Australia’s benchmark interest rate to 3.35% from 3.10% and marked the first time that the RBA had tightened policy at nine straight meetings of its board. Explaining the move, RBA Gov. Philip Lowe said inflation was at its highest level in more than three decades.
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