Australia raises benchmark rate to highest level in 18 years
-
Petrol and diesel prices remain broadly steady across major Indian cities
-
India proposes more import entry points for drugs and medical devices
-
Reliance shares remain in focus after near-12% surge
-
Derek Tierney Outlines Ten-Year Strategy for National Digital Health System
-
2026 Arizona Midterms: Key Races, Ballot Measures, and Voter Deadlines
-
NBC’s Steve Kornacki Reveals Tech Habits Ahead of Midterm Elections
-
Coal India prepares possible $1 billion Mahanadi Coalfields listing
-
India and Israel oppose UN draft on regional conventional arms control
-
Julia Stiles and Ezra Sosa Share Emotional Farewell After 'DWTS' Elimination
-
BLS Polymers shares open 65.3% above IPO price
-
US Buildings Threatened by Wildfires Could Triple by 2060
-
Capital-markets shares rally as Motilal Oswal and Angel One lead gains
-
Why Pregnancy Cost Estimates Fail: A Family’s $9,000 Surprise
-
Latino Voters Defy ICE Fears, Turn Out in Record Numbers for Midterms
-
US Strikes Iranian Targets in Strait of Hormuz Ahead of Midterms
-
ITC shares rise as analysts anticipate gradual cigarette-business recovery
-
Brodeur’s Overtime Goal Secures Bethlehem’s Second Consecutive Sectional Title
-
Reliance rally puts historical one-year return pattern in focus
-
Rare 1970 Plymouth ‘Cuda 426 Hemi Listed for $400,000
-
Kuwait edges Oman 1-0 in veterans Gulf Cup in Doha
-
The Digital Burden: Why Instant Messaging Feels Like a Full-Time Job
-
Saudi Aramco quarterly profit climbs 34.6% amid elevated oil prices
-
Alberta Tabled Controversial Riding Boundary Maps Amid Gerrymandering Accusations
-
Washington reports movement in Iran negotiations aimed at preventing escalation
-
Hong Kong court set to sentence activist Joshua Wong in security case
-
Korea’s Labor Share of GDP Hits Record Low Amid Semiconductor Boom
-
Australia raises benchmark rate to highest level in 18 years
-
littlefish and Halo Dot Partner to Replace Payment Terminals with SoftPOS
-
'The Remarried Empress' Cast Discusses Bringing Fantasy Royal Drama to Life
-
Kuwait inspectors destroy 115 kilograms of unverified meat in Farwaniya
-
Asian stocks retreat as AI worries outweigh steep oil-price drop
-
Egypt Accelerates Construction of 341km Sinai Railway Linking Arish and Taba
-
Hamad International Airport stages emergency drills during WATAN 2026
-
John Schneider Admits Owes Millions in 'Dukes of Hazzard' Divorce Battle
-
Global failure to punish attacks leaves journalists at continuing risk
-
Philippine Authorities Report Progress in Thomas Markle Sr. Child Pornography Probe
-
Researchers Warn 'Bookkeeping Trick' Masks Beef Industry's Methane Emissions
-
Web Summit Qatar 2026 generated QR1 billion economic impact, report says
-
Climate Change Intensified Atlantic Hurricanes, Study Finds
-
UAE oil spill raises questions for desalination operations
-
Qatar solar expansion opens scope for technical performance gains
-
Doha hotel and Carolina Herrera launch fragrance-inspired afternoon tea
-
Sandro Piancone and Jorge Olson Release Wholesale MBA, the Insider's Guide to Selling Consumer Goods Through Distributors, Retailers, and Direct-to-Consumer Channels
-
ESGold Expands Historic Mine Waste Reclamation Strategy With Second MOU, Bringing Total Proposed Annual Aggregate Supply to 500,000 Tonnes
-
Impauer Technologies Launches Pauerone Wallet V1 Desktop App Across Windows, MacOS, and Chrome OS to Deliver Isolated Self-custody
-
Nextech3D.ai to Showcase AI-Powered Event Technology at IAEE Expo Expo 2026
-
INEO Appoints David Wambeke to Board of Directors
-
ZEO ScientifiX Makes Industry History as First Facility to Achieve AABB's Newly Established Quality Management Systems Certification
-
Fermi Provides Update on Lease Agreement as Parties Work Toward Closing
-
Worksport Reports Preliminary Q3 Results, Reduces Operating Cash Use 89% from Second Quarter to Approximately $0.37 Million; Delivers Record Net Sales of Approximately $7.24 Million
Australia raises benchmark rate to highest level in 18 years
SYDNEY: Australia’s central bank raised its central interest rate to an 18-year high on Tuesday, citing the prolonged war in the Middle East and persistent inflationary pressures. In a statement, the Reserve Bank of Australia (RBA) said it would raise its cash rate by 25 basis points to 4.
SYDNEY: Australia’s central bank raised its central interest rate to an 18-year high on Tuesday, citing the prolonged war in the Middle East and persistent inflationary pressures. In a statement, the Reserve Bank of Australia (RBA) said it would raise its cash rate by 25 basis points to 4.85 percent. “Inflation remains elevated,” the bank said. “This partly reflects higher fuel and other commodity prices affected by the conflict in the Middle East. AI-related investment is driving rapid growth in prices for technology-related goods, and inflation in many goods and services remains high.”
The increase is the fifth this year. By pushing up home mortgage payments, it adds to the cost-of-living pressures on households, a politically potent issue in Australia. It takes rates to their highest level since late 2008, at the height of the global financial crisis. “There continue to be heightened uncertainties about the outlook for domestic economic activity and inflation,” the RBA warned. “Global oil supply disruptions are maintaining upward pressure on global and domestic energy prices and inflation. A period of prolonged uncertainty may also cause growth to be lower overseas and in Australia,” it added. — AFP
O.Gutierrez--AT