Australian Central Bank Raises Interest Rates by 25bps, In Line with Expectations

The Australian central bank raised interest rates by a quarter of a percentage point, pushing the benchmark to 2.85%, in line with the consensus in a Reuters poll.

A raise on Tuesday was the Reserve Bank of Australia’s seventh consecutive tightening move to curb inflation in the country.

The ASX200 rose 1.15% as of 11:15 BKK time, while the Australian dollar appreciated to $0.6415 against a dollar.