RBA raises cash rate 50bps to 1.35%
By Sophia Rodrigues
Published On 05 Jul 2022 , 03:03 PMThe Reserve Bank of Australia has increased the cash rate target by 50bps to 1.35%, marking two consecutive 50-basis-point moves.
The rate increases are part of the steps the RBA is taking to normalize monetary conditions in response to higher inflation.
The RBA said global factors are accounting for much of the increase in inflation in Australia, but domestic factors are also playing a role.
"Strong demand, a tight labour market and capacity constraints in some sectors are contributing to the upward pressure on prices. The floods are also affecting some prices," it added.
The RBA reiterated that the size and timing of future interest rate increases will be guided by the incoming data and its assessment of the outlook for inflation and the labour market.
"The Board is committed to doing what is necessary to ensure that inflation in Australia returns to target over time."
LATEST SNIPPETS
RBA buying total A$3.5B under 3-yr target, QE
The RBA is buying A$3.5 billion of government bonds today, with A$1.5 billion as part of its 3-year yield target, and...
Published on : 09 Nov 2020 , 11:33 AMHeadline from RBA Nov Statement on MonPol
RBA Not Contemplating Further Reduction In Interest Rates
RBA: Focus Will Be QE Program, Prepared To Buy More...
RBA buying A$2B of Nov 2028-May 2032 at 1st QE
The RBA is buying A$2 billion of November 2028 to May 2032 government bonds (excluding December 2030 bonds) as p...
Published on : 05 Nov 2020 , 11:21 AMRBA re-opening media lockups?
It appears the RBA's media lock-ups will restart from Friday when the Statement on Monetary Policy will be publis...
Published on : 04 Nov 2020 , 04:16 PMHeadlines from RBA Lowe's Speech Tuesday
RBA Lowe: No Change in View Little To Be Gained from Negative Policy Rate
RBA Lowe: Negative Policy Rate Extra...
More Headlines from RBA Policy
Any bond-buying to support 3-yr target would be in addition to A$100B QE
Not expecting to raise cash rate f...
Published on : 03 Nov 2020 , 02:35 PMHeadline from RBA's November MonPol Decision
From the RBA's November Monetary Policy Decision statement:
-Cuts cash rate target to 0.1% from 0.25%
RBA TFF drawdown steady since Sep 30 as bks await rate cut
Total amount drawdown from the RBA's Term Funding Facility has been unchanged for three straight weeks...
Published on : 30 Oct 2020 , 04:13 PMAustralia Note yields continue declining on expectation of 1bp ES rate
Yields fell further to new record lows at the AOFM weekly T-Note tenders as market factors in the possibili...
Published on : 29 Oct 2020 , 10:42 AMAustralia Note yield drop to new low ahead of RBA cuts
As expected, the yield on near-term T-Note fell to a new record low at today's AOFM's auction. The weighted a...
Published on : 22 Oct 2020 , 10:40 AM