◂ Event Timeline

Jun 7, 2022MACROAustralia

Australia's central bank raises rates by 50 basis points

The RBA raised its cash rate by 50 basis points to 0.85% on 7 June 2022, the largest move in 22 years, catching markets off guard. The central bank flagged further tightening and the Australian dollar jumped on the decision.

WHY IT MATTERS

Tighter Australian monetary policy supports the Aussie currency and raises financing costs for agricultural producers, which can slow herd and crop investment over time.

AFFECTSUS Dollar (Broad)▲

SOURCE
cnbc.comReutersJun 7, 2022

Price reaction & history

US Dollar (Broad)▲bullishSO FAR1d +0.1%5d +2.4%20d +4.0%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

Jan 29, 2025Fed day: Central bank maintains target rate at 4.25-4.50%-0.1%
May 24, 2018Most FOMC participants say they may raise rates ‘soon’, minutes show - Central Banking+0.3%
Jul 27, 2022FOMC: Fed Raises Interest Rates by 75 Basis Points to Double Down on Inflation - Bloomberg-0.7%
Sep 12, 2019European Central Bank cuts interest rates to record low - ABC News-0.3%
Jul 27, 2023(2nd LD) U.S. Fed raises key rate by 25 basis points to highest level since 2001 | Yonhap News Agency+1.2%

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.

US Dollar (Broad) DXY · GP ▸

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