BREAKING: RBA RAISES OCR BY 25 BPS FROM 2.35% TO 2.60% IN OCTOBER, AUD/USD PLUNGES
The Reserve Bank of Australia (RBA) raised its official cash rate (OCR) by 25 basis points (bps) from 2.35% to 2.60%.
The rate hike decision was widely anticipated and marked the fifth straight half percentage point hike by the central bank since the one initiated back in June.
According to the latest Reuters poll, the median forecast showed rates going up another 50 bps next quarter to peak at 3.35%.
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