![\"\"](\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2023\/05\/audusd3.png\")
<\/p>\nThe Reserve Bank of Australia rate meeting today was supposed to be a done deal of another hold in rates, with futures markets pricing in an over 90% chance of that being the outcome.<\/p>\n
The RBA however, showing their determination to get an inflation rate still well outside their target band instead delivered a 25bp hike after last months pause, surprising the market and seeing a dramatic reaction in the Aussie dollar (pump) and equity markets. (dump)<\/p>\n
AUDUSD and ASX200 reaction:<\/p>\n
<\/p>\n
Adding to this was what was see as a hawkish statement accompanying the decision, helping to cement the original moves which look now to have some legs, likely seeing the AUDUSD break the 0.67 level this session.<\/p>\n
*RBA RAISES CASH RATE TARGET 25 BASIS POINTS TO 3.85%<\/p>\n
*RBA: SOME FURTHER TIGHTENING OF MONETARY POLICY MAY BE REQUIRED<\/p>\n
*RBA SAYS RATE RISE TO HELP ANCHOR INFLATION EXPECTATIONS<\/p>\n","protected":false},"excerpt":{"rendered":"
The Reserve Bank of Australia rate meeting today was supposed to be a done deal of another hold in rates, with futures markets pricing in an over 90% chance of that being the outcome. The RBA however, showing their determination to get an inflation rate still well outside their target band instead delivered a 25bp […]<\/p>\n","protected":false},"author":48,"featured_media":528856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2805],"tags":[],"class_list":["post-528854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-central-banks"],"acf":[],"yoast_head":"\n