Australia’s central bank, startled by the risk that inflation could prove stickier than previously thought, abandoned all thought of pausing at its February policy meeting and signalled more rate hikes would be needed in the months ahead. | Reuters
Rates have climbed 325 basis points since last May, easily the most aggressive tightening in modern history
“While inflation was expected to decline, there was a risk that it could persist at an uncomfortably high level, which would entail longer term costs.” The hawkish turn surprised investors who sharply revised up the expected peak for interest rates to 4.2 percent, compared with 3.6 percent back in January.
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