Dow Jones Newswires: RBA resumes interest-rate increases, despite signs of inflation peak

by | May 2, 2023 | Stock Market

SYDNEY–The Reserve Bank of Australia surprised financial markets and raised its official cash rate by 25 basis points to 3.85% after a policy meeting Tuesday, resuming an aggressive campaign of increases. The decision to raise interest rates further comes despite first-quarter consumer-price-index data last week showing inflation likely peaked in late 2022. “Inflation…

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