Arabic version: أستراليا ترفع سعر النقد إلى أعلى مستوى في 15 عاماً

According to Cnbc, Australia’s central bank on Tuesday raised its policy rate by 25 basis points to 4.6%, its highest level in 15 years, as it seeks to contain persistent inflation. The move matched expectations among economists polled by Reuters.

The Reserve Bank of Australia has increased rates four times this year, lifting the cash rate by a combined 100 basis points. Inflation has remained above the bank’s 2% to 3% target band during 2026, reaching 4.6% in March before easing to 3.5% in July. The August inflation reading is due Wednesday.

In its statement, the RBA said upside risks it had identified at its August meeting were materializing. It cited a broader Middle East conflict and energy prices that were higher than assumed. The bank also pointed to AI-related demand that was causing rapid price increases for technology-related goods.

The central bank said it would continue to take the action it considered necessary to contain inflation, including raising the policy rate further. It also warned that unresolved conflict in the Middle East could result in higher inflation and weaker activity than forecast. Australia’s economy expanded 2.1% in the second quarter, down from 2.5% in the first three months of the year. The S&P/ASX 200 and the Australian dollar were flat after the decision.