Australia’s central bank has lifted its benchmark interest rate by a quarter percentage point to 3.85%, after three rate cuts last year and as inflation surges.

This comes as the country sees its highest level of inflation in six quarters.

In updated economic forecasts, RBA staff revised up their inflation assumptions, with core inflation expected to come in at 3.2% by the end of 2026, up from their November prediction of 2.7%. This ...

1157 GMT – Sterling has scope to weaken against the Australian dollar on the prospect of further Bank of England interest rate cuts and Australia’s central bank having potentially finished lowering ...

MELBOURNE, Australia(AP) — Australia’s central bank lifted its benchmark interest rate Tuesday by a quarter percentage point to 3.85%, after three rate cuts last year and as inflation surges. The ...