# ASX rises as Reserve Bank lift rates, Dow Jones posts biggest monthly surge in 47 years - ABC News

> The RBA raised its cash rate by 0.25 percentage points to 2.85 per cent, its seventh consecutive hike, as most economists expected. The ASX 200 closed up 1.7 per cent and the Australian dollar gained to about 64.25 US cents after Wall Street closed lower overnight.

- Date: 2022-10-31 · published 2022-10-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/39389-asx-rises-as-reserve-bank-lift-rates-dow-jones-posts-biggest-monthly-surge-in
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Macro rate moves and a firmer Aussie dollar shift the cost of imported inputs and the export value of Australian feed-grain and meal trade, with limited direct effect on grain prices.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- abc.net.au: https://www.abc.net.au/news/2022-11-01/asx-australian-share-market-dow-jones-wall-street/101600220

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