Policymakers of the Reserve Bank of Australia said more interest rate hikes will be needed in the process of normalizing monetary policy over the months ahead, the minutes of the meeting held on August 2 showed Tuesday.
At the meeting, the board had decided to raise the cash rate by 50 basis points to 1.85 percent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 1.75 percent.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.