Australia Raises Interest Rate to Highest Level in 15 Years
Automated summary•29 September 2026 at 07:53
The Reserve Bank of Australia raised its key interest rate on Tuesday as part of efforts to curb inflation.
The increase of 25 basis points, equivalent to a quarter of a percentage point, took the rate from 4.35% to 4.6%.
The decision brought the benchmark rate to its highest level in 15 years, marking a further tightening of monetary policy.
Higher interest rates are intended to restrain borrowing and spending, helping to ease pressure on prices. The latest move reflects the central bank’s push to bring inflation under control.
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