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The Reserve Bank of Australia raised its cash rate target by 25 basis points to 0.35% and lifted the interest rate on exchange settlement balances to 0.25%. The bank also stopped reinvesting maturing government bond proceeds, citing resilient growth and faster-than-expected inflation.
Tighter Australian monetary policy supports the Aussie currency and raises borrowing costs for domestic farmers and feedlots, with limited direct effect on global feed grain prices.
rba.gov.auPhilip Lowe GovernorMay 3, 2022Not enough comparable past events yet for a historical read.
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.
