The Fed plans to keep hiking, but Australia is set to pause as it warns of recession risks
Publishing timestamp: 2023-03-08 01:44:27
Summary
The Reserve Bank of Australia's governor, Philip Lowe, has suggested that the central bank is nearing the point where it will be appropriate to pause interest rate increases to allow more time to assess the state of the economy. This comes after the central bank hiked its benchmark overnight cash rate by another 25 basis points to 3.60%, marking the highest it has been since June 2012. The Australian dollar has weakened, and the country's stocks have slightly risen after the smaller hike and less hawkish commentary from the RBA. Commonwealth Bank of Australia economist Gareth Aird has suggested that the pause could come as early as April.
Sentiment: NEUTRAL
Keywords: business news, interest rates, economic events, world markets, world economy, dxy us dollar currency index, united states, u.s. economy, asia economy, australian dollar/us dollar fx spot rate, s&p/asx 200, jerome powell, central banking,
Source: https://www.cnbc.com/2023/03/08/australia-is-set-to-pause-as-it-warns-of-recession-risks.html