Australia's central bank raises interest rates amid global inflation fears
Updated
Updated · Semafor · May 5
Australia's central bank raises interest rates amid global inflation fears
10 articles · Updated · Semafor · May 5
The move came as Philippine prices rose much faster than expected and companies' warnings about passing higher costs to consumers hit their highest level since Russia's 2022 invasion of Ukraine.
Energy shortfalls linked to the Iran war have intensified inflation concerns worldwide, with HSBC warning food prices could climb further because of the energy shock and the expected El Niño weather pattern.
European and US central banks have so far avoided raising rates to protect growth and jobs, but accelerating inflation may force them to follow Australia.
As Australia hikes rates, why are US and Europe waiting as global inflation surges?
Beyond the economic pain, which Western nations are set to profit from the Iran war?
With war and El Niño looming, how can a catastrophic global food crisis be averted?