# Statement by Philip Lowe, Governor: Monetary Policy Decision - November 2022 | Media Releases | RBA

> The Reserve Bank of Australia raised its cash rate target by 25 basis points to 2.85 per cent on 1 November 2022. It forecast inflation to peak near 8 per cent later in 2022 and remain elevated into 2023.

- Date: 2022-11-01 · published 2022-11-01T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/38922-statement-by-philip-lowe-governor-monetary-policy-decision-november-2022-media
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Higher Australian rates strengthen the AUD and tighten financial conditions, a modest macro factor for Australian grain and livestock export pricing.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- rba.gov.au: https://www.rba.gov.au/media-releases/2022/mr-22-36.html

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