SYDNEY (Reuters) – The head of Australia’s central bank on Wednesday said it was closer to pausing its aggressive cycle of rate increases as policy was now in restrictive territory and there were signs the economy was responding.
The Reserve Bank of Australia (RBA) on Tuesday lifted interest rates to an 11-year high of 3.60% and flagged more tightening would still likely be needed to tame inflation.
(Reporting by Wayne Cole; Editing by Chris Reese)
