đš BREAKING NEWS: Australia lifts rates to 18-year high as AI boom, energy costs fuel inflation
The Reserve Bank of Australia raised its benchmark rate to 4.85% on rising technology costs from AI investment and higher energy prices.
Australiaâs central bank raised its interest rate by 25 basis points to 4.85% on Tuesday, warning that inflation would stay elevated through much of 2027 as energy costs and AI-related investment added to price pressures.
The Reserve Bank of Australiaâs monetary policy boardvoted6â3 for the increase, with three members preferring to hold rates at 4.60%.
The bank pushed back its forecast for inflation to return to the top of its 2% to 3% target range until late 2027, around three quarters later than previously expected.
đ [READ FULL HERE](https://cointelegraph.com/markets/australia-lifts-rates-as-ai-boom-energy-costs-fuel-inflation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)
đ° Nguá»n: đȘ CoinTelegraph
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The Reserve Bank of Australia raised its benchmark rate to 4.85% on rising technology costs from AI investment and higher energy prices.
Australiaâs central bank raised its interest rate by 25 basis points to 4.85% on Tuesday, warning that inflation would stay elevated through much of 2027 as energy costs and AI-related investment added to price pressures.
The Reserve Bank of Australiaâs monetary policy boardvoted6â3 for the increase, with three members preferring to hold rates at 4.60%.
The bank pushed back its forecast for inflation to return to the top of its 2% to 3% target range until late 2027, around three quarters later than previously expected.
đ [READ FULL HERE](https://cointelegraph.com/markets/australia-lifts-rates-as-ai-boom-energy-costs-fuel-inflation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)
đ° Nguá»n: đȘ CoinTelegraph
$BTC $ETH #BinanceSquare #CryptoNews
