Australia's central bank raised its benchmark rate by a quarter-point and tweaked its forward guidance triggering expectations for more hikes.
At the first board meeting of the year, the Reserve Bank of Australia policymakers decided to lift the cash rate target by 25 basis points to 3.35 percent. The rate decision came in line with expectations. The interest rate on Exchange Settlement balances was also raised by 25 basis points to 3.25 percent.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.