RBA Raises Rates to 4.35% Amid Inflation

RBA raised cash rate by 25 bps to 4.35%, its third consecutive hike, with policy board voting 8‑1.
Australian dollar traded flat at $0.7163, down 0.5% from prior session, with support at $0.7102 and resistance $0.7228.
Markets price a 20% chance of another June hike, expecting rates to reach 4.60% by September, highest since 2011.
RBA lifted inflation forecast to a near‑5% peak, cut growth and employment outlook, citing rising oil prices from U.S.–Israeli‑Iran conflict.