RBA rate lift causes shift in commodity prices

Market Economics Managing Director Stephen Koukoulas says the Reserve Bank’s cash rate lift yesterday has seen some “interesting moves” on commodity prices.

“The price of oil has dropped 10 per cent – other commodity prices are down somewhere around two, three and four per cent,” he told Sky News Australia.

He said these prices will “feed into some inflation and cost of living pressure release in another three to six months”.

“So the dynamics of the economy and markets are changing very rapidly.”

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Written by Bourbiza Mohamed

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