Economics
RBA Wrongfoots Market With Outsized Hike, Sending Yields Soaring
- Central bank lifts rates by largest amount since February 2000
- Only three economists of 29 surveyed predicted half-point rise
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Australia’s central bank surprised investors by raising interest rates by twice as much as forecast and committing itself to “doing what is necessary” to rein in broadening inflationary pressures.