RBA raises rates to 15-year peak as inflation pressures mount

Australia's central bank $RBA raised its cash rate to 4.35%, the highest level since 2011, signaling that more hikes may remain on the table despite broader global rate-cutting cycles. The decision reflects persistent inflationary pressures in the domestic economy, with officials citing wages and services inflation as key concerns.

The RBA's hawkish stance contrasts with expectations of monetary easing elsewhere, putting upward pressure on the Australian dollar and signaling a divergence in global policy paths. Markets are now reassessing expectations for future rate moves across developed economies.

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