Australia's central bank raised its key interest rate for the first time in over 11 years as inflation picked up more than expected and the economy strongly weathered the headwinds.
The policy board of the Reserve Bank of Australia, headed by Governor Philip Lowe, decided to lift the cash rate target by 25 basis points to 0.35 percent. Markets had expected a 15 basis-point hike.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.