RBA raises interest rates to 4.1 percent in tight vote

The Reserve Bank of Australia raised its benchmark cash rate for the second consecutive month on Tuesday, increasing it by 25 basis points to a 10-month high of 4.1%. This decision aims to address persistent inflation risks, which have been exacerbated by global geopolitical tensions. The move was decided by a narrow 5-4 vote, reflecting significant internal debate among board members regarding the necessity of further tightening.