RBA Rate Surge to 4.85% Tests Domestic Tourism Expenditure and Visitor Economy Resilience
The Reserve Bank of Australia has officially lifted the cash rate target by 25 basis points to 4.85 percent, marking an 18-year high in official borrowing costs. The landmark monetary policy decision arrives amid persistent inflationary pressures and follows an acceleration in the annual Consumer Price Index. While the tightening cycle is primarily aimed at