The Reserve Bank of Australia on Tuesday again defied market expectations, raising its benchmark rate by 25 basis points to 4.1%. Economists polled by Reuters were widely expecting the central bank to hold rates steady. Consequently, Australian stocks fell further on the news, with the S&P/ASX 200 last trading 1% lower. The Australian dollar was up by 0.73% to 0.6667 against the U.S. dollar shortly after the decision, with the central bank grappling with the latest inflation rate of 6.8% for the month of April. Reserve Bank of Australia’s Governor Philip Lowe said while inflation in the nation may have “passed its ... (full story)