Australia central bank warns of more hikes ahead after raising rates to 11-year high

The Reserve Bank of Australia raised interest rates by a quarter-point to an 11-year high. The central bank has hiked rates by a whopping 400 basis points since May last year, the most aggressive tightening cycle in its modern history

The hawkish message sent the local dollar surging and bond yields spiking, as markets quickly moved to price in an above even chance of a further rate increase next month.

"The omission of this sentence reads hawkish in our view and may spell further rate hikes ahead from the RBA." In the policy statement, Lowe said the latest rate increase will "provide greater confidence that inflation will return to target within a reasonable timeframe."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Forex Today: Aussie rallies on unexpected RBA hike, US Dollar edges lowerForex Today: Aussie rallies on unexpected RBA hike, US Dollar edges lower – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
Read more »

RBA Announces Further Rate Increase, Sees More on HorizonBy James Glynn SYDNEY--The Reserve Bank of Australia announced its 12th rise in interest rates in just over a year on Tuesday, further ratcheting up stress...
Read more »

Australian Treasurer Chalmers: No expectation economy will head into recessionFollowing the Reserve Bank of Australia (RBA) surprise rate hike announcement, Australian Treasurer Jim Chalmers said at a press conference on Tuesday
Read more »

Blackrock CEO Larry Fink Says US Is Jeopardizing Dollar's Reserve Currency Status – Economics Bitcoin NewsBlackrock CEO Larry Fink has warned that the United States is jeopardizing the U.S. dollar’s reserve currency status. debtceiling
Read more »

Case Western Reserve University details plans for new $300 million interdisciplinary research buildingCase Western Reserve University is making its single biggest investment, outside of medical research, in 30 years: a new, interdisciplinary research facility.
Read more »