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MNI BRIEF: RBA Surprise 25bp Hike, More Seen In "Period Ahead"

MNI (PERTH)
MNI (Perth)

The Reserve Bank of Australia bucked the consensus by raising 25bps to 2.60% as it noted the cash rate had been increased "substantially" over a short period.

The Reserve Bank of Australia has signalled a slower pace of hikes after raising rates by 25 bps to 2.60%, while providing itself with policy flexibility by changing its language around additional hikes to "over the period ahead" from September's "over the months ahead."

The RBA snapped its run of four consecutive 50bps hikes, noting that the Cash Rate has increased "substantially" in a short period of time. It has raised rates 250bps since its May meeting. (See MNI STATE OF PLAY: RBA Seen Leaning Towards 50bps Hike)

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The Reserve Bank of Australia has signalled a slower pace of hikes after raising rates by 25 bps to 2.60%, while providing itself with policy flexibility by changing its language around additional hikes to "over the period ahead" from September's "over the months ahead."

The RBA snapped its run of four consecutive 50bps hikes, noting that the Cash Rate has increased "substantially" in a short period of time. It has raised rates 250bps since its May meeting. (See MNI STATE OF PLAY: RBA Seen Leaning Towards 50bps Hike)

Keep reading...Show less