SYDNEY - Australia's central bank, startled by the risk that inflation could prove stickier than previously thought, abandoned all thought of pausing at its February policy meeting and signalled more rate hikes would be needed in the months ahead. Minutes of the Feb. 7 policy meeting out on Tuesday showed the Reserve Bank of Australia's (RBA) Board only discussed two options - hiking by 50 basis points or 25 bps. That was a marked change from December when it had considered staying pat. A pattern of upward surprises on inflation and wages had argued for the larger move, the minutes showed. The Board settled on a quarter-point hike, which brought the cash rate to a fresh decade-h...
Keep on reading: Australia’s central bank abandoned pause option for Feb rate hike
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