Loading…
The Reserve Bank of Australia unexpectedly raised its cash rate by 25 basis points to 3.85% after holding at 3.6% in April. The Australian dollar rose 0.6% to 0.6677 against the US dollar.
The article also covers Asia-Pacific markets and JPMorgan's takeover of First Republic Bank.
A surprise rate hike strengthens the Aussie and tightens financial conditions in Australia. Feed buyers would see only indirect effects through currency and export competitiveness.
cnbc.comJihye Lee, Lim Hui JieMay 1, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
