# Australia central bank steps up warning of more rate hikes even as growth slumps

> The Reserve Bank of Australia signalled further rate hikes may be needed even as economic growth slowed. The Australian dollar rose to a three-month high of $0.6690 and three-year bond yields climbed to a five-month high.

- Date: 2023-06-07 · published 2023-06-07T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/35754-australia-central-bank-steps-up-warning-of-more-rate-hikes-even-as-growth-slumps
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Higher Australian rates support the Aussie dollar, which can influence Australian export pricing and competitiveness for commodities like grains and meat.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/rates-bonds/australias-cbank-says-june-hike-due-inflation-risks-warns-more-come-2023-06-06/

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