Australian central bank reverses course with interest rate increase
Rise comes 6 months after cut as RBA warns on inflation
Rise comes 6 months after cut as RBA warns on inflation

Central bank cites higher fuel prices as result of Iran war as it unveils third increase this year

Data release comes after Fed held interest rates last month

Policymakers lower the benchmark repo rate by half a percentage point to 5.5 per cent as fears over inflation ease

Figure paves way for expected Federal Reserve rate cut next week

Central bank says it will halt quantitative tightening programme amid signs of stress in money markets

Move lowers borrowing costs to 20% and follows reduction in inflation