Australia Delivers Third Straight Rate Hike

It’s Keira here, in an overcast Melbourne. The Reserve Bank of Australia has gone for a third straight rate hike, taking the cash rate to 4.35% and firmly putting Australia out on its own as other major central banks sit tight. Governor Michele Bullock signals the idea now is to create space to pause and watch inflation from here.

Meanwhile, the global backdrop hasn’t become any less volatile. The US says its offensive phase against Iran is over, but the country’s targeting of a cargo vessel after a day of strikes suggests the impact of the conflict is far from over for shipping disruptions and global oil flows. - Keira Wright, Australian Energy Reporter