Mumbai, Nov. 3 -- Australia's central bank, the Reserve Bank of Australia (RBA), announced that it raised its benchmark interest rate by 25 basis points to 4.85%, up from 4.60%, marking its fifth rate hike this year.
The bank said inflation remained elevated, with higher fuel and commodity prices linked to the Middle East conflict adding to price pressures. It now expects inflation to return to the upper end of its 2% to 3% target range in late 2027, later than previously forecast.
Published by HT Digital Content Services with permission from Capital Market....