RBA Signals Pause After Delivering Third Straight Rate Hike

Australia’s central bank raised its key interest rate for a third consecutive meeting, with Governor Michele Bullock signaling policymakers would now pause to assess next steps.

The Reserve Bank’s nine-member policy committee opted to increase the cash rate to 4.35% from 4.1% by a vote of eight to one on Tuesday, unwinding all of last year’s cycle of monetary easing. The aggressive tightening underscored its determination to tame stubbornly strong inflation and cemented the RBA’s outlier status among global counterparts.