Australia Raises Interest Rates for First Time in More Than a Decade

SYDNEY — The Reserve Bank of Australia raised its benchmark interest rate for the first time in more than a decade, aiming to curb rising inflation that is threatening the country’s economic recovery from the Covid-19 pandemic.

The RBA raised the cash rate to 0.35%, from 0.10%, and signaled further increases are likely to bring long-term inflation back to its 2%-3% target. It represents a significant turnaround by the RBA, which as recently as March signaled patience even as other global central banks laid the groundwork for aggressive moves to tighten monetary policy. bad.

https://www.wsj.com/articles/australia-raises-interest-rates-for-first-time-in-more-than-a-decade-11651557525 Australia Raises Interest Rates for First Time in More Than a Decade

Alley Einstein

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