Forex - Australia stands pat on rates, dollar jumps

Posted by Forexsq 1120 days ago (
img forexsq - Australia’s central bank kept its policy interest rate unchanged on Tuesday, citing an uptick in prices and a steadier global economy, with the decision sending the Australian dollar sharply higher.

The Reserve Bank of Australia maintained the cash rate at 3.25% after trimming the benchmark at its previous meeting.

The RBA rate-setting committee said Tuesday that “with prices data slightly higher than expected and recent information on the world economy slightly more positive, the board judged that the stance of monetary policy was appropriate for the time being.”

Commonwealth Bank economist Michael Blythe saw “a better tone to the economic data, but a high-side third-quarter [consumer price index] seems to have been the main impediment to a cut.”

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