The Reserve Bank of Australia cautiously raised its main interest rate on Tuesday (6), in the last monetary policy meeting of this year, maintaining the pace of tightening despite initial signs that domestic inflation may be reaching a peak. .
Known as the RBA, the Australian Central Bank raised its base rate by 25 basis points (bp), to 3.10%, in the third consecutive month that it makes an adjustment of this magnitude.
“Economic growth is expected to moderate over the next year as the global economy slows, the recovery in services spending comes to an end and domestic consumption growth slows on the back of tighter financial conditions,” said the RBA President Philip Lowe in a statement.
The RBA, which has said it expects further rate hikes, has raised its key rate by 300 basis points since May. The Australian central bank also reiterated that it expects the country’s annual inflation to peak at around 8%.
The RBA predicts that inflation will moderate over the next year and stay just above 3% in 2024.
Source: CNN Brasil
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