# Australia's central bank hikes rates by 25 basis points; Asia-Pacific markets mixed

> 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.

- Date: 2023-05-01 · published 2023-05-01T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/36210-australia-s-central-bank-hikes-rates-by-25-basis-points-asia-pacific-markets
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2023/05/02/asia-markets-australia-to-announce-interest-rate-decision-.html

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