Statement by Philip Lowe, Governor: Monetary Policy Decision

Statement by Philip Lowe, Governor: Monetary Policy Decision

From rba.gov.au

At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 2.35 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 2.25 per cent. The Board is committed to returning inflation to the 2–3 per cent range over time. It is seeking to do this while keeping the economy on an even keel. The path to achieving this balance is a narrow one and clouded in uncertainty, not least because of global developments. The outlook for global economic growth has deteriorated due to pressures on real incomes from high inflation, the tightening of ... (full story)

Added at 12:35am

RBA raises cash rate by 50 bps to 2.35%, as expected

From forexlive.com

Prior 1.85%. • Committed to returning inflation to the 2-3% range over time. • Inflation expected to increase further over the months ahead. • Inflation is expected to peak later this year, then decline back towards 2-3% range. • Central forecast is for CPI inflation to be around 7¾ per cent over 2022, a little above 4 per cent over 2023 and around 3 per cent over 2024. • Labour market is very tight, wages growth has picked up. • Household spending remains an important source of uncertainty. • Price stability is a prerequisite for a strong economy and a sustained period of full employment. • Further ... (full story)

Added at 12:44am

AUD/USD recovers after declining below 0.6800, RBA hikes rates by 50 bps fourth time

From fxstreet.com

The AUD/USD pair has recovered sharply after slipping below the critical support of 0.6800. The Reserve Bank of Australia (RBA) has announced a rate hike by 50 basis points (bps) consecutively for the fourth time to combat soaring price pressures. Officially, the RBA’s Official Cash Rate (OCR) has increased to 2.35%. As price pressures are accelerating dramatically in the Australian economy and households are facing the headwinds of higher payouts, a rate hike decision by the RBA was highly expected. The Australian inflation rate has been recorded at 6.1% for the second quarter of CY2022. This has squeezed the ... (full story)

sell the rallies!

Quoting blaseit28

Disliked

sell the rallies!

Ignored

If you see one

joining the sell

Went long AUD/JPY at 95.55 post announcement, closed for profit 95.80 …. Thank you and good night

Not much rallies.

what is happening in AUDUSD.....50bps and AUD is bearish in all pairs

RBA raises cash rate by 50 bps to 2.35%, as expected