Australia’s RBA Raises Rate to 18-Year High Amid AI Price Pressures
Photo: TokenPost
The Reserve Bank of Australia raised its cash rate target to 4.85%, an 18-year high, citing persistent inflation pressures that include AI-linked technology costs, whose effect on consumer prices remains modest. The 25-basis-point (0.25 percentage point) increase lifted the target from 4.60%. The Monetary Policy Board voted 6-3, with three members favoring no change. The RBA announced the decision at 10:30 p.m. ET Nov. 2 (03:30 UTC Nov. 3). The RBA cited fuel and commodity costs, domestic capacity pressures and rapid price increases for technology goods tied to AI investment.
Source: TokenPost
