Archive for May 2nd, 2023


Australian Central Bank Rate Hike and Probably Not the Last One

May 2, 2023

The Reserve Bank of Australia‘s Official Cash Rate has been raised by 25 basis points and at 3.85% is 375 basis points higher than a year ago. Beginning in May 2022 from a pandemic base of 0.10%, the OCR was increased at every scheduled opportunity except in March 2022, when “the Board held interest rates […] More

New Overnight Developments Abroad - Daily Update

Factory Purchasing Manager Surveys, An Australian Central Bank Rate Hike, and Much More

May 2, 2023

It’s been a busy Tuesday from an event and data-release standpoint, but financial market movements have been more measured. Drops of 1.0% against the Australian dollar and 0.7% versus the New Zealand dollar followed the Reserve Bank of Australia’s 25-basis point rate hike after having paused tightening in March. Against other currencies, however, the dollar […] More