# Peter Martin Economics: Why further RBA rate hikes are less likely now than even 1 week ago

> US inflation was flat in October, falling to 3.2% annually from 3.7%, and UK annual inflation dropped to 4.6% from 6.7%. Commentary suggests further rate hikes in both countries are less likely and cuts may come as soon as next year.

- Date: 2023-11-01 · published 2023-11-01T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/33417-peter-martin-economics-why-further-rba-rate-hikes-are-less-likely-now-than-even
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower inflation and expected rate cuts in the US and UK weaken the dollar and ease financing costs, which is mildly supportive for commodity prices. The link to feed markets is indirect.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-02-29 | [Rate cuts are a boon for metals markets…eventually \| Oxford Economics](https://feedsoft.ai/events/31572-rate-cuts-are-a-boon-for-metals-markets-eventually-oxford-economics.md) | -0.5% | -0.1% |
| DXY | 2023-12-13 | [US dollar strength likely to wane a bit further in 2024 \| Capital Economics](https://feedsoft.ai/events/8717-us-dollar-strength-likely-to-wane-a-bit-further-in-2024-capital-economics.md) | -1.0% | -0.7% |
| DXY | 2018-03-20 | [Even with a Fed rate hike, dollar can weaken further: Credit Suisse](https://feedsoft.ai/events/66188-even-with-a-fed-rate-hike-dollar-can-weaken-further-credit-suisse.md) | -0.9% | -1.2% |
| DXY | 2018-05-26 | [The charts that matter: the Fed hints at a more relaxed pace of rate hikes \| MoneyWeek](https://feedsoft.ai/events/64947-the-charts-that-matter-the-fed-hints-at-a-more-relaxed-pace-of-rate-hikes.md) | +0.2% | +1.5% |
| DXY | 2023-02-02 | [ECB hikes rates, promises another 50 bps more in March](https://feedsoft.ai/events/37535-ecb-hikes-rates-promises-another-50-bps-more-in-march.md) | +1.3% | +2.1% |

## Sources

- petermartin.com.au: https://www.petermartin.com.au/2023/11/why-further-rba-rate-hikes-are-less.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.