Mumbai, Nov. 3 -- The Australian dollar dipped to a two-week low on Tuesday after the Reserve Bank of Australia (RBA) decided to raise its cash rate to 4.85%, from 4.6%. This is the fifth rate hike in 2026 and the highest level since 2008. The RBA board reported that inflation remains elevated and broad-based, prompting staff to revise forecasts materially higher. Inflation is now expected to stay above 3% over the coming year and will not return to the top of the 2% to 3% target band until late 2027, around three quarters later than previously projected. While higher fuel and commodity prices linked to the Middle East conflict have contributed to this outlook, the RBA also highlighted tighter domestic capacity pressures. Additionally, su...