RBA Rate Hike Vindicated by Jump in Headline Inflation

The Reserve Bank of Australia's (RBA) decision to raise interest rates has been vindicated by a jump in headline inflation to four per cent, according to analysts. The RBA had previously expressed concerns that inflation remained too high, and this latest data suggests they may have made the right call.

Despite the increase in inflation, experts say it's unlikely to dispel the RBA's concerns entirely. 'They've had time,' said a representative of the Reserve Bank of Australia, but no further details were given on what exactly that means for future rate decisions.