Australia's central bank struggles to tame inflation despite three rate rises
The Reserve Bank of Australia's efforts to curb inflation are being complicated by the collapse of the US-Iran ceasefire, rising oil prices and data-centre investment, according to the Guardian.
The Reserve Bank of Australia has raised interest rates three times this year in an effort to bring inflation back to its 2.5% target, but the goal remains elusive, the Guardian reported. The bank has been attempting to control inflation for five years, according to the report.
The Guardian said the breakdown of the US-Iran ceasefire, rising oil prices and a surge in data-centre investment are making the central bank's task more difficult, contributing to a cost-of-living crisis and public frustration.
Sources
- The RBA hoped this year’s three interest rate rises would tame inflation – but nothing is going their way — The Guardian — World
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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