Australia’s central bank raised its policy rate by 25 basis points to 3.85% on Tuesday, marking the Reserve Bank of Australia’s first rate hike since November 2023 as inflation continues to climb. The Reserve Bank of Australia’s move matched expectations from economists polled by Reuters and followed data showing inflation at its highest level in six quarters. The board voted unanimously to lift the cash rate, marking a reversal in direction after delivering three rate cuts in 2025. “Private demand is growing more quickly than expected, capacity pressures are greater than previously assessed and labour market ... (full story)