Australia's central bank hiked its key interest rates by another 50 basis points but made the policy outlook more conditional despite high inflation, as economic growth is projected to slow this year and next.
The policy board of the Reserve Bank of Australia, headed by Governor Philip Lowe, decided to lift the cash rate target by 50 basis points to 1.85 percent, the highest level since April 2016. The outcome of the meeting came in line with economists' expectations. The bank has raised the benchmark rate by a cumulative 175 basis points over the last four consecutive meetings.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.