RBA Cash Rate Hits 4.6% Amid Persistent Inflation
The Reserve Bank of Australia (RBA) has increased its cash rate to 4.6%, marking its highest level since 2011.
This move, which was widely expected, will add to repayment costs for millions of mortgage holders across the country.
Data released on Wednesday is expected to show underlying inflation rising at an annual pace of 3.6% in August, exceeding the RBA's target range of 2% to 3%.