Reserve Bank of Australia hits the brakes on rate hike

The Reserve Bank of Australia (RBA) increased its policy rate by 25 basis points, ending the streak of 50 basis point hikes that had been going on for four meetings.

The policy rate in the country has reached the highest level since July 2013.

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Central Bank: The most obvious contribution to the increase in inflation came from energy and services groups

In the statement made by the bank, the message of continuing the tightening process to combat inflation was given, while the sales movement in Australian assets dominated after the decision under the forecasts. The Australian dollar fell 1 percent.

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