The RBA shocked global markets when they hiked policy rates by 25 basis points for their May policy meeting, after having just paused their aggressive rate hiking cycle in the prior meeting, in order to examine the effects of their year-long measures in tightening policy. Some will interpret the RBA's decision as a forward indicator for other major central banks' respective hiking and pausing cycles. However, Weston Nakamura discusses broader takeaways from the RBA with applications to the Fed, ECB, Bank of England, Bank of Japan, and other central bank policies. Weston also discusses the currency markets in reaction to the RBA shock rate hike - namely the Aussie Dollar against the yen, and how the yen can serve as a useful base currency pair to read market reactions as central banks continue to release their respective policy decisions in the immediate term. -- Follow Market Depth On Spotify: https://spoti.fi/3mVTs9U Follow Market Depth On Apple Podcasts: https://apple.co/40dA2vm Follow Weston: https://twitter.com/acrossthespread Follow Blockworks: https://twitter.com/Blockworks_  Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ --or Disclaimer: Nothing discussed on Market Depth should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.