The Australian dollar fell against its most major counterparts in the Asian session on Tuesday, after the Reserve Bank of Australia raised its key interest rate as expected and said that the size of future hikes would be determined by the economic data and the outlook for inflation and the labor market.
The policy board of the RBA, headed by Governor Philip Lowe, decided to lift the cash rate target by 50 basis points to 2.35 percent, the highest level since late 2014.
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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.