The Reserve Bank has increased interest rates and left the door open to further hikes, warning inflation will stay higher for longer amid war in Iran and soaring petrol prices. The hike followed a move in February and lifted the RBA’s cash rate target to 4.1%, back to where it was in February 2025, wiping out the relief offered by two cuts last year. Michele Bullock, the RBA governor, said strong growth in employment and spending had kept upward pressure on prices and the war in Iran would only worsen the problem. “High petrol prices will add to inflation, but
Iran negotiating with FIFA to move World Cup games to Mexico from US
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