RBA Minutes Show Split on Future Rates After March Hike

The central bank of Australia remains uncertain about the future trajectory of interest rates following a narrow decision to tighten policy earlier this month. Minutes from the Reserve Bank of Australia (RBA) March meeting, released on Tuesday, indicate that while the board felt a restrictive stance was necessary, external geopolitical factors have clouded the economic outlook. Board members agreed it was not possible to predict the future path for interest rates with any confidence, given the uncertainty surrounding the conflict in the Middle East.