Rates round-up: Australia signals more tightening to come

RBA — Reserve Bank of Australia, Sydney

Rachael King

- Central Banking Newsdesk
- 07 Mar 2023

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Australia: The Reserve Bank of Australia continued monetary tightening on March 7 with another 25 basis point rise in the cash rate, to 3.6%, and signalled further increases are likely. Since last May, the RBA has increased the policy rate by 350bp.

Headline consumer price inflation was 7.4% in January, a fall from the 8.4% reading in December. The RBA has a 2–3% inflation target range.

In comments to the press, governor Philip Lowe said the RBA would probably increase the cash rate further

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