The hawkish message sent the local dollar surging and bond yields spiking, as markets quickly moved to price in an above even chance of a further rate increase next month.
"The omission of this sentence reads hawkish in our view and may spell further rate hikes ahead from the RBA." In the policy statement, Lowe said the latest rate increase will "provide greater confidence that inflation will return to target within a reasonable timeframe."
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Source: MarketWatch - 🏆 3. / 97 Read more »