RBA Hikes Cash Rate Again Amid Inflation Concerns
The Reserve Bank of Australia (RBA) announced its decision to increase the cash rate by 25 basis points, reaching 4.6% in a unanimous decision on September 29.
This move follows recent disruptions to global oil supply and higher-than-expected growth and inflation in Australia.
Cash rate increases since the beginning of the year have tightened financial conditions, with the economy appearing to slow down.