Reserve Bank of Australia board members felt this year’s rate hikes would give them room to observe how the Middle East conflict would develop, minutes of the bank’s May 4–5 policy meeting show.
The minutes, published today (May 19), show that board members felt financial conditions would “probably be somewhat restrictive” following their decision to raise rates by 25 basis points to 4.35%. “They therefore agreed that the decision would give the board space to see how the conflict in the Middle
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