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Andrew Brown

Tariff turmoil triggers Reserve Bank inflation fears

Reserve Bank Donald Trump the Reserve Bank United States Belinda Allen Michele Bullock Australia Interest Rates

The Reserve Bank is concerned about a "two-sided risk" to inflation in the wake of Trump's tariffs. (James Ross/AAP PHOTOS)

The threat of Donald Trump's tariffs loomed large over the Reserve Bank as it made the call to keep interest rates on hold, warning that US measures could lead to higher inflation.

Minutes from the central bank's April 1 meeting, released on Tuesday, revealed the board was concerned about a "two-sided risk" to inflation following the US tariffs announcement and its global impact.

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