Australia’s central bank concluded inflation would stay stubbornly high if it had not hiked interest rates as it did this month, and was not yet sure if further tightening would be necessary. Minutes of the Reserve Bank of Australia’s board meeting released on Tuesday showed members were worried that the risks to its inflation and employment mandates had “shifted materially”, making the case to hike the stronger one. “Members agreed that the data received since the previous meeting had strengthened their concern that, without a policy response, inflation would remain persistently above target for too long,” the ... (full story)