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Australia keeps policy rate steady at 3.6% as inflation worries loom
Australia’s central bank expectedly held benchmark policy rates at 3.6% on Tuesday as inflation in the country stays at its highest level in more than a year. The move was in line with expectations from economists polled by Reuters, and comes after the country earlier this month reported headline inflation rate of 3% for August — the highest since July 2024 — with housing, food and alcohol driving price growth. The Reserve Bank of Australia signaled inflation worries in its statement Tuesday: “Recent data, while partial and volatile, suggest that inflation in the September quarter may be higher than expected ... (full story)
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