OK, the first part of the headline, that the AUD is up after the cash rate hike is factual, while the second part, on more to come, is my take on the statement from Reserve Bank of Australia Governor Lowe. Its clear there are more hikes to come in 2023.
As statements go, its not dovish. And it is explicit:
- The Board expects to increase interest rates further over the period ahead
Of course 'expects' is not a guarantee, but I reckon there is more to come.
AUD/USD update, a wee pop:
