The RBA has once again raised interest rates in Australia. The bank raised interest rates by 25 basis points (0.25 percent) to 4.5 percent.
The RBA cited that conditions have improved globally and in Australia as well and that inflation is likely to enter the upper end of the banks target area. The bank continues to be cautious by pushing interest rates up carefully as conditions return to normal.
The bank will continue to monitor conditions during the coming months. Meaning, that it’s possible we will continue to see interest rates increase in Australia until they see a pullback in the currently climbing inflation.
Despite these solid fundamentals, the Australian Dollar seems to be topping out against most currencies.