RBA Hikes Cash Rate to 15-Year High Amid Rising Inflation Concerns

The Reserve Bank of Australia (RBA) raised its cash rate to a 15-year high of 4.60% on September 29, marking its fourth hike this year.

The decision was widely expected due to stronger-than-expected inflation and activity data.

Rising fuel costs are pushing headline inflation back up to 4.1%, while underlying inflation likely remained sticky at 3.6%

PIMCO's Adam Bowe stated that the RBA is prepared to hike further if needed, citing upside risks to inflation and materializing disruptions to global oil supply.