# Australia central bank raises rates to 10 year high, says more needed - Markets - Business Recorder

> The Reserve Bank of Australia raised its cash rate by 25 basis points to a 10-year peak of 3.1%, its eighth hike in as many months and in line with all 30 economists polled by Reuters. Governor Philip Lowe said further increases are expected but not on a preset path, and the next meeting is in February.

- Date: 2022-12-06 · published 2022-12-06T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/38483-australia-central-bank-raises-rates-to-10-year-high-says-more-needed-markets
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Higher Australian rates support the Australian dollar, which can affect the cost of Australian grain and meal exports priced in US dollars. The move is a macro signal rather than a direct change in feed supply.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40212814

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