◆ Mixed
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RBA raised rates 25bp to 4.60% with hawkish guidance, warning it will raise further if needed
What happened
The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.60%, in line with expectations, and warned in its statement that it will raise the cash rate further if needed. The press conference followed at 06:30 BST.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Global rate-sensitive equities: a hawkish G10 central bank reinforces the upward pressure on sovereign yields that is already compressing equity valuations, especially high-multiple tech.
- US Treasuries: adds to the global 'higher for longer' narrative supporting the 10-year near 5.27% and the 30-year near 5.58%.
- Australian dollar: typically supported by a hawkish hold/hike stance, feeding the dollar's mixed momentum.
Sources