Dow Jones Newswires: RBA resumes interest-rate increases, despite signs of inflation peak

SYDNEY–The Reserve Bank of Australia surprised financial markets and raised its official cash rate by 25 basis points to 3.85% after a policy meeting Tuesday, resuming an aggressive campaign of increases.

The decision to raise interest rates further comes despite first-quarter consumer-price-index data last week showing inflation likely peaked in late 2022.

“Inflation…