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Australia raises interest rates to 4.85% as inflation persists

Original: Australia raises interest rate to 4.85% as AI spending and energy costs fuel inflation The Reserve Bank of Australia lif

The Reserve Bank of Australia lifted its cash rate by 25 basis points to 4.85%, an 18-year high, in a split 6-3 vote. The bank cited persistent inflation driven by strong AI-related investment spending and elevated energy costs, and pushed back its forecast for returning inflation to target to late 2027. Commentators are debating the divided board decision and what a prolonged high-rate period means for mortgages and growth.

Why now: An unexpected rate hike to an 18-year high, with a rare split vote and a delayed inflation target, directly affects borrowers and markets.

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Australia raises interest rate to 4.85% as AI spending and energy costs fuel inflation The Reserve Bank of Australia lifted its rate 25 basis points to an 18-year high of 4.85%, voting 6-3, and pushed its inflation return forecast to late 2027. https://… · newisty

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