As expected, the Reserve Bank of Australia (RBA) has hiked its cash rate from 4.10% to 4.35%, the +25 bps rise markets were expecting. Even this new higher 4.35% rate will be at a level that is far lower than most similar central banks have adopted. Australia's monthly inflation indicator came in at 5.6% in September, having risen from 4.9% in July. The RBA's cash rate, Australia's benchmark interest rate, is the highest it has been since 2012. The December review will be the final RBA monthly review.

Source: Stuff November 07, 2023 13:05 UTC