RBA raises cash rate to 4.35% as fuel-driven inflation and Middle East conflict pressure prices
The Reserve Bank of Australia increased its cash rate by 25 basis points to 4.35% at its May meeting, marking the third hike this year and restoring interest rates to post-pandemic highs. The board cited rising fuel costs and the potential for second-round effects on broader prices as reasons to keep policy tight, and signalled risks remain tilted …