Faster-than-expected inflation is likely to force the Reserve Bank of Australia to deliver a 25 basis point rate hike in November, which could be the last in the current tightening cycle. Consumer prices posted a sequential growth of 1.2 percent, faster than the 0.8 percent increase in the second quarter, the Australian Bureau of Statistics reported Wednesday. Economists had forecast an annual rate of 1.1 percent.
The most significant contributors to the sequential increase were automotive fuel, rents, new dwellings purchased by owner occupiers and electricity.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.