Despite an easing in inflation, the Reserve Bank of Australia unexpectedly raised its benchmark interest rate by a quarter-point and signaled more hikes to bring inflation back to the target in a reasonable timeframe. The RBA Board decided to hike the cash rate target by 25 basis points to 3.85 percent. This was the highest rate since early 2012. Markets widely expected the apex bank to leave the ...
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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.