Australia's central bank on Tuesday raised benchmark policy rates for a second straight time, pushing them to their highest since April 2025 at 4.1%. The 25 basis points hike was in line with expectations from analysts polled by Reuters, and comes as Australia's inflation stays above the central bank's upper limit of 3%, with the war in the Middle East risking a further rise in prices. "While inflation has fallen substantially since its peak in 2022, it picked up materially in the second half

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