SYDNEY (Reuters) – Australia’s central bank raised its cash rate 50 basis points to 2.35% on Tuesday and left the door open for more tightening ahead as it seeks to restrain surging inflation.
Wrapping up its September policy meeting, the Reserve Bank of Australia (RBA) did drop a reference to “normalising” policy suggesting rates were now closer to neutral.
The fifth hike since May had been widely expected and had little impact on the local dollar at $0.6808. [AU/INT]
(Reporting by Wayne Cole; Editing by Sam Holmes)
