Reserve Bank of Australia

Rate hikes and tax break reversal undermine home prices; there is a sea change in mood among buyers and sellers alike

The key goal is to prevent elevated cost pressures from entrenching inflation, adds Michele Bullock

Central bank raises rates at its first three meetings of the year to 4.35% to tackle renewed inflation pressures

Brent crude futures hit a high of US$76.38 a barrel on Wednesday

The Reserve Bank of Australia has raised interest rates three times this year due to a war-driven energy shock

The RBA has said that it is still concerned about secondary effects from higher energy costs onto other prices

The RBA has already raised rates by 75 basis points since February

The country’s policy decision comes in a week when several major central banks are expected to stay on hold

The episode is the latest in a series of issues in recent years that has triggered greater scrutiny of consulting firms in the country