“The Reserve Bank of Australia’s decision to raise interest rates points to the critical times ahead as global disruptions impact Australia’s economy,” said Innes Willox, Chief Executive of the national employer association, Australian Industry Group. “Locally-driven inflation has been too high and rising for many months. But the spectre of imported inflation due to the Iran conflict has now shifted the balance, requiring difficult but necessary and immediate action to slow the pace of price growth.” Read full media release here