The Australian central bank raised interest rates for the second consecutive month this year.

The Reserve Bank of Australia announced on the 17th that it would raise the benchmark interest rate by 25 basis points to 4.10%. This is the second consecutive month of interest rate hikes by the Australian central bank this year. The Reserve Bank of Australia stated in a release on that day that the current inflation level is still above the target range, with continued upward risks, and the conflict in the Middle East has led to a significant increase in fuel prices. If this trend continues, it will further drive up inflation. The latest data from the Australian Bureau of Statistics shows that in the 12 months leading up to January of this year, the country's consumer price index rose by 3.8%, exceeding the target range of 2% to 3% set by the Reserve Bank of Australia. In early February of this year, the Reserve Bank of Australia announced a 25 basis point increase in the benchmark interest rate to 3.85%, marking the first rate hike by the bank in over two years.