- Australia's central bank raised interest rates on Tuesday to the highest level in 15 years.
- The move is the fourth rate hike this year.
- The central bank balances the need to combat inflation against worries over employment.
- Inflation is compounded by global price shocks connected to the U.S.-Israeli war with Iran.
Quotes
“Australia's central bank raised interest rates on Tuesday to the highest level in 15 years as the country battles inflation compounded by global price shocks connected to the U.S.-Israeli war with Iran.”