RBA raises rates to 18-year high
Australia's central bank hiked to the highest level since 2008 with inflation above target, and Bullock gave no guidance on the peak. The AUD stayed near a two-week low.
What we know
An account on X cites the WSJ on the hike. @FT notes high unemployment and a house price collapse. Bullock said there is no clarity on how high rates may go. The AUD is near a two-week low.
How the story developed
Australia's central bank hiked to the highest level since 2008 with inflation above target, and Bullock gave no guidance on the peak. The AUD stayed near a two-week low.
The RBA raised the cash rate 25bp to 4.85% with three dissenters favouring a hold, and sharply revised up its inflation outlook. Bullock offered no guidance on further moves and the Aussie weakened.
Sources
“raised interest rates to an 18-year high”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.