An independent agency of the US Federal Government notes that so far only Australia has been able to beat rising inflation by raising interest rates. And indeed it is! The first and most important thing is that the weekly CPI is rapidly approaching the level of the interest rate. Yesterday, the Australian dollar strengthened the most against the US dollar and calmly “digested” Jerome Powell’s rhetoric about further interest rate hikes. The national currency feels confident and intends to continue to grow stronger than all market benchmarks.
