COINTELEGRAPH · 2026-11-03 04:16 UTC

Australia lifts rates as AI boom, energy costs fuel inflation

Australia's central bank raised interest rates by 25 basis points to 4.85%, with a 6-3 vote, citing elevated inflation driven by AI-related investment and energy costs. The RBA pushed back its inflation forecast to return to target until late 2027, about three quarters later than previously expected. The rate increase contrasts with the US Federal Reserve's decision to hold rates steady last week, despite similar concerns about AI investment driving price pressures.

Loading the story on Tree News…