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Australia's central bank lifts rates to 15-year high, signals risk of further hikes
SYDNEY: The Reserve Bank of Australia raised its cash rate to a 15-year high of 4.60% on Tuesday in its fourth hike of the year, saying inflation was too high and that it was prepared to hike further if needed. The move was widely expected, with the Aussie dollar little changed at $0.7014 after a short-lived knee-jerk rise. Markets are now pricing in a 43% probability for another rate rise in November after the latest move. “Since the August meeting, the key developments for the RBA have been stronger than expected inflation and activity data, making it increasingly difficult for the bank to h...
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