Australia’s central bank, the Reserve Bank of Australia (RBA), raises the official cash rate to 4.35% on Tuesday, marking its third consecutive increase this year. The rate moves up from 4.1%, a decision widely expected by markets. Multiple reports say the RBA links the tightening partly to rising fuel prices that are lifting inflation, with the bank warning that these pressures may persist and spread to broader prices. In remarks reported by outlets, RBA governor Michele Bullock indicates further rate rises could be needed, even though earlier hikes may not be sufficient to stop fuel-driven inflation on their own. One report also highlights that the RBA publishes updated forecasts showing cost-of-living pressures intensifying alongside weaker growth. The RBA’s guidance emphasizes the aim of reducing demand and curbing the risk of broader inflation taking hold once the effect of the oil price spike ends. Overall coverage frames the move as a response to ongoing inflation concerns, with the bank maintaining a hawkish stance as it balances inflation risks against economic softness.