The Federal Reserve Bank of Australia raises interest rates by 25 basis points to 3.85%.

Canberra Shawwal 12, 1444 AH corresponding to May 02, 2023 AD
The Federal Reserve Bank of Australia announced in a statement on its official website that it has raised the official interest rate by 25 basis points from 3.6% to 3.85%.
The Governor of the Reserve Bank, Dr. Philip Lowe, confirmed after the bank’s monthly board meeting today, that the Board of Directors of the Reserve Bank is committed to doing what is necessary to ensure that inflation in Australia returns to the target rate during the next stage.