Australia hikes rates, but pause from big central banks is near

LONDON(Reuters) – Australia was the latest major central bank to raise rates and on Tuesday hinted at further hikes, even as most major central banks steadily move closer to a pause in aggressive monetary tightening as inflationary pressures show signs of easing. Last week, the U.S. Federal Reserve implemented its smallest rise of its tightening cycle so far and markets suspect a peak is nearing from the European Central Bank and the Bank of England. Overall, 10 big developed economies have raised rates by a combined 2,990 basis points in this cycle to date. Japan is the holdout dove. Here’s a…

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