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The Independent UK
The Independent UK
National
Rod McGuirk

Australia's central bank raises interest rate to 3.85% after 3 cuts

Australia Cherelle Murphy United States Inflation Jim Chalmers
Australia Economy - (Copyright 2022 The Associated Press. All rights reserved.)

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 Reserve Bank of Australia has boosted its cash rate for the first time since November 2023, when the rate rose from 4.10% to 4.35%.

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