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Australian Central Bank Sets Interest Rate and Australian Dollar Raises

2018-09-04 07:51 am | Resource: News | No Views : 263



 
The Reserve Bank of Australia (RBA) board, controlled by Philippe Lowe, voted to keep rates at 1.50%. The decision was widely expected. Where the RBA has stabilized interest rates, saying its current policy stance is consistent with the inflation target and sustainable growth in the economy.

"Taking into account available information, the Board considered that the monetary policy stance unchanged at this meeting would be consistent with sustainable growth in the economy and achieve the inflation target over time," the bank said in a statement.

The Bank affirmed that the low level of interest rates continues to support the Australian economy.

Data from the Australian Bureau of Statistics showed that Australia's current account deficit rose in the second quarter mainly due to an increase in net initial income deficit.

The current account deficit rose to A $ 1.79 billion to A $ 13.47 billion in the June quarter.

The Australian dollar rose against major currencies after the rate decision
  • The Australian dollar rose to a 4-day high of 0.7235 against the US dollar, up 0.7% from 0.7187 at 4:30 GMT.
  • After falling to 79.81 against the yen at 9:30 pm, the Australian dollar reversed and rose 0.8% to a 4-day high of 80.41. In yesterday's close.
  • The Australian dollar rose to 1.6043 against the euro, its highest level in 5 days, recording a 0.6% gain from a low of 1.6135 at 03:15 GMT.
  • The Australian dollar rose 0.5 percent to a 6-day high of 0.9478 against the Canadian dollar, after falling to 0.9427 at 01:30 GMT.
  • The Australian dollar advanced to 1.0959 against the New Zealand dollar, the strongest since August 30. This is 0.6% higher than the 1.0899 low at 3:05 GMT.


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We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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