Policymakers of the Reserve Bank of Australia discussed raising the interest rate by a further quarter point at the September meeting, the minutes of the meeting showed Tuesday.
At the final policy-setting meeting of Philip Lowe as governor, board members considered both lifting the rate by 25 basis points and holding the cash rate target at 4.10 percent.
The case to raise the interest rate was based on the assumption that inflation will remain above the target for a prolonged period and the risk that this period might be extended.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.