RBA lifts cash rate to 4.85% as inflation outlook stays sticky
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The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.85% after a 6‑3 board vote.
The Reserve Bank of Australia has lifted its cash rate by 25 basis points to 4.85 percent.
The board voted six‑to‑three in favour of the hike, citing entrenched inflation expectations.
Inflation is projected to stay above 3 percent for the coming year and is not expected to re‑enter the target band until late 2027.
The New Zealand dollar gained about a quarter of a percent against the Australian currency after the decision, trading around 0.8040 at 4:38 pm NZ time.
These moves reflect the RBA’s assessment that price pressures remain persistent.
