通胀“死灰复燃”，澳洲联储打响2026加息第一枪！

Core Viewpoint - The Reserve Bank of Australia (RBA) has raised the cash rate from 3.6% to 3.85%, marking it as the first major central bank to increase rates this year due to persistent domestic inflation pressures [2][4]. Group 1: Interest Rate Decision - The RBA's decision to increase the cash rate is a response to substantial inflationary pressures, with the committee noting that private demand is growing faster than expected [2]. - This increase effectively reverses one of the three rate cuts made last year, indicating a shift in monetary policy [2]. Group 2: Economic Indicators - Recent data shows that inflation is expected to remain above the target range of 2-3% for this year, with predictions that it will not reach the midpoint of this range until the end of 2027 [4]. - The Australian economy is nearing its capacity limits, with a historically low unemployment rate and a strong monthly growth in job advertisements since February 2022 [4][5]. Group 3: Consumer Behavior and Market Reactions - Despite the rate hike, Australian consumers are cautious, with real per capita spending remaining flat and a slight increase in the savings rate as households rebuild financial buffers [4]. - Following the RBA's announcement, the three-year government bond yield rose by 5 basis points to 4.34%, and the Australian dollar experienced a sharp increase against the US dollar [2].