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  • Statement by Michele Bullock, Governor: Monetary Policy Decision

    From rba.gov.au

    At its meeting today, the Board decided to raise the cash rate target by 25 basis points to 4.35 per cent. It also increased the interest rate paid on Exchange Settlement balances by 25 basis points to 4.25 per cent. Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago. The latest reading on CPI inflation indicates that while goods price inflation has eased further, the prices of many services are continuing to rise briskly. While the central forecast is for CPI inflation to continue to decline, progress looks to be slower than earlier ... (full story)

Added at 10:33pm

Added at 10:33pm

Added at 10:33pm
Added at 10:33pm

This is clearly positive news for AUD, but the market reacted by selling AUD heavily. Whyyyyyyyyyyyyy?
Quoting dungnqq
This is clearly positive news for AUD, but the market reacted by selling AUD heavily. Whyyyyyyyyyyyyy?
read the news : "... INFLATION WOULD RETURN TO TARGET IN A REASONABLE TIMEFRAME"

Means inflation is going down, no more rate hikes.
Why AUD plunged upon rate hiking?
Already priced in
Hike priced in but its the commentary that follows about weak economy and demand plus high inflation equals stagflation in Australia which is the worst case scenario for them
its not positive against USD because dollar still got better rates. Carry traders dont see point to flip this
Early to bed, early to rise, keeps you healthy, wealthy and wise.
IMO market thinks that there is more problem in the data which is released, there fore AUD slide.
How can i track those macro news event that i see on market chart but not in the calendar.
I use 1hr timeframe for trading.
Please somebody put me through.
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