RBA raises cash rate 50bps to 0.85%
By Sophia Rodrigues
Published On 07 Jun 2022 , 02:47 PMThe Reserve Bank of Australia raised the cash rate target by 50bps to 0.85%. The rate on Exchange Settlement balances was also raised by 50bps to 0.75%.
Key headlines:
--Expects to take further steps in policy normalization
--Committed to do what is necessary
--Inflation has increased significantly. Higher than earlier expected
--Terms of trade at record high
--Higher electricity, gas prices means near-term inflation is likely to be higher than expected a month ago
--Upswing in business investment
--Household spending one source of uncertainty…will pay close attention
--Econ resilience and higher inflation means extraordinary monpol support no longer needed
--Size and timing of future rate increase to be guided by incoming data
LATEST SNIPPETS
RBA Parliamentary Hearing Bit Unusual But Not Extraordinary
RBA deputy governor Guy Debelle will be appearing before the Economics Legislation Committee in Canberra late evening...
Published on : 04 Mar 2020 , 03:26 PMEx-centralbanker Says RBA Might Do 25+25, Not 50
An ex-centralbanker with strong experience in monetary policy during the global financial crisis says the RBA is more...
Published on : 02 Mar 2020 , 02:44 PMWestpac Evans Expects RBA Cut Tue, QE by mid-year
Not much forecasting on RBA by Westpac's chief economist Bill Evans other than a 25bps cut in the cash rate...
Published on : 02 Mar 2020 , 11:14 AMAustralia Westpac-MI Consumer Sentiment Up But House Price Expectations More Imp For RBA
Consumer sentiment rose 2.3% to 95.5 in February, more than rebounding from the 1.8% fall in January, the Westpac-Mel...
Published on : 12 Feb 2020 , 10:41 AMMy tweets from first session of RBA's Parliamentary testimony today
RBA Lowe: If the unemployment rate were to be moving MATERIALLY in the wrong direction n there was no further progres...
Published on : 07 Feb 2020 , 10:59 AMWestpac's Evans Now Expects RBA Cut in April, Aug (Previously Feb, June)
Westpac's chief economist Bill Evans has pushed back his forecast for RBA cash rate cut to April from February, c...
Published on : 24 Jan 2020 , 11:26 AMANZ No Longer Forecasting RBA Feb Cut
Economists at ANZ have removed RBA cut in February from their forecast following the strength in employment in Novemb...
Published on : 23 Jan 2020 , 01:37 PMAustralia Consumer House Price Sentiment Could Justify RBA Hold in Feb
Consumer sentiment fell 1.8% to 93.4 in January from 95.1, the Westpac-Melbourne Institute Index of Consumer Sentimen...
Published on : 22 Jan 2020 , 11:36 AMAustralia Q3 net export to add 0.2%ppt to Q3 GDP
Australia net export to contribute 0.2 percentage point to Q3 GDP, data from ABS showed.
Terms of trade was st...
Australia consumer confidence off multi-year low but econ conditions view further down
Consumer confidence rose 1.2% in the week to Dec. 1 to 108.1, marking the first rise in four weeks but remained...
Published on : 03 Dec 2019 , 10:04 AM