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As markets rally, where will rates go?

6/15/202621 min

The Australian stock market has surged after US President Donald Trump declared that oil shipments will soon start flowing freely through the strait of Hormuz.

The announcement comes as Australia's Reserve Bank starts its deliberations about what to do with interest rates ahead of tomorrow afternoon's decision.

So does this Hormuz news lower the chance of further rate hikes?

Carrington Clarke and ABC Business Reporter Steph Chalmers  break it all down on ABC Business Daily.

Catch up on today's episode of Fuelcast here. 

Got a burning business question?

Send a short voice recording to Carrington and the team at abcbusinessdaily@abc.net.au

Clips

Economist Forecasts Diverge Wildly
Oil Futures Tumble After Deal
They've Shocked Us Before

Transcript preview

First 90 seconds

  1. Steph Chalmers0:00

    [upbeat music] ABC Listen. Podcasts, radio, news, music, and more [tense music] When you wanna be stopped in your tracks I'm running to shoot it.

  2. Speaker 2· Soundbite0:13

    It's 50/50. You can catch his gun, or he shoot you [upbeat music] When you wanna know the truth She was brainwashing her from, from the start We're here to investigate Something's gone wrong, big time Search Background Briefing Podcast on ABC Listen or wherever you get your podcasts Well, the Australian stock market has surged after Donald Trump's declaration that oil shipments will soon start flowing freely through the Strait of Hormuz.

  3. Carrington Clarke· Host0:46

    It comes as the RBA starts its deliberations about what to do with interest rates. So does this announcement potentially lower the chance of a further hike? Welcome to ABC Business Daily. [upbeat music] I'm Carrington Clark.

  4. Steph Chalmers1:03

    And I'm ABC business reporter Steph Chambers Steph, here we are.

  5. Carrington Clarke· Host1:06

    It's RBA rates decision eve, but the Reserve Bank actually starts its meetings today, and they've got a pretty important, seemingly important piece of information now to digest. Uh, it appears that either there's a peace deal that's about to be signed, or depending on your terminology, but it's some sort of agreement that both the US and

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