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The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank.
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Australian central bank governor Michele Bullock said inflation in Australia was too high ahead of the upcoming interest rate decision. The remarks precede consideration of lifting rates for the fourth time this year, signaling continued vigilance on inflation dynamics and policy path.
The US Federal Reserve raised its target range for the federal funds rate by 25 basis points to 3.75% to 4.00%, marking the first increase since 2023. Market reactions included a weaker yen near 156 per dollar and mixed stock performance as markets digested the hawkish stance and potential for another rate hike later this year.
Financial markets priced in a 95 per cent chance of a September rate hike by the Reserve Bank of Australia.
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Financial markets and economists priced in a 95 percent probability of a Reserve Bank of Australia rate hike in September following recent comments from senior officials
Financial markets priced in a 95 per cent chance of a September rate hike by the Reserve Bank of Australia.
