RBA raises cash rate to 4.35 percent amid oil shock
The RBA raised its cash rate to 4.35 percent as fuel costs drove inflation higher. Officials warned that global oil shocks could keep prices above target levels.
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Australia raised its main cash rate by 25 basis points to 4.35% on Tuesday morning. This third hike of the year undoes three 2025 rate cuts as inflation climbed to 4.6% in March. Investors now face a 50% surge in energy costs and an 80% probability of further tightening by August.
