Sydney, March 17, 2026 (AFP) - Australia hikes key interest rate citing 'sharply higher fuel prices'

NAMPA / AFP

2026-03-17

Australia's central bank hiked its key interest rate Tuesday, pointing to "sharply higher fuel prices" driven by the US-Israel war on Iran. The Reserve Bank of Australia became one of the first major central banks to lift rates in response to the turmoil, raising its key cash rate 25 basis points to 4.10 percent. Global oil prices have surged more than 40 percent since the US and Israel began their strikes on February 28, leading Iran to choke o......

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