The Reserve Bank of Australia has increased the cash rate by 25 basis points, aiming to curb persistent inflation and stabilize economic growth.
The Reserve Bank of Australia (RBA) has increased the cash rate target by 25 basis points to 4.35%, alongside a similar increase for the interest rate on Exchange Settlement balances, in response to persistent inflation that, while past its peak, remains too high. After the RBA hike rates by 25 bps on Tuesday, the language was fairly cautious causing the the AUD to sell off against the USD.
Equities finished relatively unchanged overnight, taking a breather from a weeklong rally not seen in 12 months
This website provides general advice that does not take into account your individual objectives, financial situation, or needs. Past performance does not guarantee future results. The trade recommendations in our Pilot Portfolios are hypothetical, may exclude certain fees, and are not a basis for future investment decisions. Please do not rely solely on this information. We recommend seeking appropriate financial, taxation, and legal advice before making any investment decisions. Please refer to our Financial Services Guide for more information about our services.