# 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.

- Date: 2022-06-07 · published 2022-06-07T12:00:00.000Z
- Category: macro · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/41206-australia-s-central-bank-raises-rates-by-50-basis-points
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## 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.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-01-29 | [Fed day: Central bank maintains target rate at 4.25-4.50%](https://feedsoft.ai/events/26415-fed-day-central-bank-maintains-target-rate-at-4-25-4-50.md) | -0.1% | -0.8% |
| DXY | 2018-05-24 | [Most FOMC participants say they may raise rates ‘soon’, minutes show - Central Banking](https://feedsoft.ai/events/64945-most-fomc-participants-say-they-may-raise-rates-soon-minutes-show-central.md) | +0.3% | +1.7% |
| DXY | 2022-07-27 | [FOMC: Fed Raises Interest Rates by 75 Basis Points to Double Down on Inflation - Bloomberg](https://feedsoft.ai/events/40388-fomc-fed-raises-interest-rates-by-75-basis-points-to-double-down-on-inflation.md) | -0.7% | +0.2% |
| DXY | 2019-09-12 | [European Central Bank cuts interest rates to record low - ABC News](https://feedsoft.ai/events/57284-european-central-bank-cuts-interest-rates-to-record-low-abc-news.md) | -0.3% | +0.3% |
| DXY | 2023-07-27 | [(2nd LD) U.S. Fed raises key rate by 25 basis points to highest level since 2001 \| Yonhap News Agency](https://feedsoft.ai/events/35281-2nd-ld-u-s-fed-raises-key-rate-by-25-basis-points-to-highest-level-since-2001.md) | +1.2% | +1.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/06/07/australias-central-bank-raises-rates-by-50-basis-points.html

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