The Reserve Bank of Australia lifted its benchmark rate for the second straight time as the conflict in the Middle East poses material risk to inflation. In a close call, the policy board, governed by Michele Bullock, decided to hike the cash rate target by 25 basis points to 4.10 percent.
The decision was made by a majority vote, with five members voting to raise the rate and four seeking to hold it at 3.85 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.