RBA Lifts Interest Rates to 3.85 Percent

Australian dollars coins in Melbourne, Australia, on April 4, 2024. AAP Image/Joel CarrettThe Reserve Bank of Australia (RBA) has hiked interest rates by 25 basis points, becoming the first major central bank to go from rate cuts to rate hikes following the post-COVID-19 inflation spike.In a unanimous decision on Feb. 3, the RBA’s monetary policy board lifted the cash rate to 3.85 percent.