Lampposts in front of the Reserve Bank of Australia (RBA) building in Sydney, Australia, on Monday, February 6, 2023.
Bloomberg | Bloomberg | beautiful pictures
The Reserve Bank of Australia on Tuesday again defied market expectations and raised its benchmark interest rate by 25 basis points to 4.1%.
Economists polled by Reuters had widely expected the central bank to keep interest rates steady.
The Australian dollar rose 0.73% to 0.6667 against the US dollar shortly after the decision as the central bank grapples with the latest inflation rate of 7% in the March quarter. Australian stocks fell deeper and the S&P/ASX 200 last traded 1.14% lower.
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