# ASX falls on stalled US debt ceiling talks, CBA lifts mortgage rates again, NZ's Reserve Bank raises rates for 12th time — as it happened - ABC News

> The ASX fell on May 23, 2023, as US debt ceiling talks stalled and miners weighed on the market. The Commonwealth Bank raised variable mortgage rates, and New Zealand's Reserve Bank lifted its official rate by 0.25 points to 5.5%. Brent crude rose 1% to about US$77.61 a barrel.

- Date: 2023-05-23 · published 2023-05-23T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/36209-asx-falls-on-stalled-us-debt-ceiling-talks-cba-lifts-mortgage-rates-again-nz-s
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising rates in Australia and New Zealand and higher oil prices affect farm input and freight costs. The market wrap has little direct effect on feed supply or demand.

## Read by commodity

- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-07-28 | [ASX 200 rallies as chances of an August rate hike drop, AI stocks tumble in Asia — as it happened - ABC News](https://feedsoft.ai/events/18601-asx-200-rallies-as-chances-of-an-august-rate-hike-drop-ai-stocks-tumble-in-asia.md) | -4.2% | +2.6% |
| BRENT | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | -0.2% | -5.6% |
| BRENT | 2022-01-27 | [Bond yields rise, rupee falls on US Federal Reserve policy and crude prices \| News on Markets - Business Standard](https://feedsoft.ai/events/43416-bond-yields-rise-rupee-falls-on-us-federal-reserve-policy-and-crude-prices-news.md) | -0.2% | +8.2% |
| BRENT | 2026-09-28 | [Sterling rebounds against dollar, euro on bets for tighter BoE policy \| Financial News](https://feedsoft.ai/events/17737-sterling-rebounds-against-dollar-euro-on-bets-for-tighter-boe-policy-financial.md) | +6.5% | +1.3% |
| BRENT | 2019-07-31 | [Stocks sink after Fed dents hopes for multiple interest-rate cuts - Los Angeles Times](https://feedsoft.ai/events/58018-stocks-sink-after-fed-dents-hopes-for-multiple-interest-rate-cuts-los-angeles.md) | -7.6% | -7.3% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2023-05-24/asx-markets-business-live-news-2405-2023/102384800

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