Australia's central bank raised its benchmark rate by a quarter-point to a 12-year high, ending a four-session long pause, as inflation is likely to be more persistent than estimated though policymakers suggested that any further tightening is off the table.
The policy board of the Reserve Bank of Australia, headed by Governor Michele Bullock, decided to lift the cash rate target by 25 basis points to 4.35 percent.
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by Renju Jaya
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