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S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Sports analytics may be outnumbered when it comes to artificial intelligence
Critical asset just had biggest fall on record (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
Critical asset just had biggest fall on record (Ad)
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Sports analytics may be outnumbered when it comes to artificial intelligence
Critical asset just had biggest fall on record (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
Critical asset just had biggest fall on record (Ad)
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Sports analytics may be outnumbered when it comes to artificial intelligence
Critical asset just had biggest fall on record (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
Critical asset just had biggest fall on record (Ad)

Australian central bank boosts cash rate to 4.1% with 12th hike


Men walk down stairs to a train station in front of the Reserve Bank of Australia in Sydney, Tuesday, June 6, 2023. Australia’s central bank has lifted its benchmark interest rate for a 12th consecutive time to 4.1% and warned further rises could follow. (AP Photo/Rick Rycroft)

CANBERRA, Australia: (AP) — Australia’s central bank on Tuesday lifted its benchmark interest rate for a 12th consecutive time, to 4.1%, and warned further rises could follow.

The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point at its latest monthly meeting. That followed a higher-than-expected 6.8% annual inflation rate reported for the January-March quarter.

Reserve Bank Governor Philip Lowe said it would take time for inflation to fall to the target range of 2% to 3%.

“This further increase in interest rates is to provide greater confidence that inflation will return to target within a reasonable timeframe,” Lowe said in a statement.

The cash rate is now at its highest level since April 2012.

The bank first started jacking up interest rates in June 2022.

Lowe said further increases might be needed.

“The board will continue to pay close attention to developments in the global economy, trends in household spending, and the outlook for inflation and the labor market,” he added.

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