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<p>The post on the Reserve Bank of Australia policy decision is here:</p><p class="article-slot__title title top"><a href="https://www.forexlive.com/centralbank/australia-rba-raises-the-cash-rate-by-25bp-to-335-as-expected-20230207/" rel="follow" target="_self" class="article-link">Australia – RBA raises the cash rate by +25bp to 3.35%, as expected</a></p><p>The statement from Reserve Bank of Australia Governor Lowe sounded a hawkish note, stating cleary the Board expects further rate hike increases (i.e. more than one) are to come. The RBA <a href="https://www.forexlive.com/terms/i/inflation/" class="terms__main-term" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa" target="_blank">inflation</a> target band is 2 to 3%. The CPI is WAY above that and in today's statement the Bank said it did not expect the CPI to fall to even 3% until 2025. This'll explain the multiple rate hikes yet to come. </p><p>This is a 1 minute candle chart of AUD/USD. If you are in bed staring at your phone it'll give you a picture of the FX response. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.

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