Australia Reports Lower-Than-Expected First-Quarter Inflation, Highest in Two Years
Australia's first-quarter inflation rate rose to 4.09%, the highest in over two years, though below the 4.2% forecast. The Reserve Bank of Australia (RBA) indicated inflation may remain above its 2%–3% target for an extended period, raising the possibility of further interest rate hikes. The RBA's policy meeting is scheduled for next week.
Topics: economic growth inflation interest rates oil prices RBA