Reserve Bank of Australia (RBA) news

The Reserve Bank of Australia (RBA) is Australia's central bank. Its primary responsibility is to maintain monetary and financial system stability. The RBA uses various monetary policy tools to influence economic conditions and contribute to sustainable economic growth and full employment in Australia.

RBA joins super-sized club
Stock markets are back in the red on Tuesday, giving back the bulk of Monday's gains in a sign of ongoing uncertainty as to the direction of equity markets and the economy.   There is clearly appetite at these levels but that's not being backed up by momentum of any kind. Hardly surprising given the sheer uncertainty around inflation, interest rates and the economy.
by Craig Erlam
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Australian dollar swings after RBA shocker
The Australian dollar showed some bounce on Tuesday, courtesy of the RBA rate decision. AUD/USD produced a flash spike of 60 points after the move and touched a daily high of 0.7248, but was unable to consolidate.  In the European session, the Aussie is trading at 0.7180, unchanged on the day. RBA surprises with 50bp hike The RBA had a huge surprise up its sleeve, as it delivered a 50bp rate hike, bringing the cash rate to 0.85%.
by Kenneth Fisher
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