Article By RoboForex.com
On Tuesday, the Australian dollar started growing against the US counterpart. The current quote is 0.6419.
At the meeting the Reserve Bank of Australia lifted the interest rate to 2.85% annual from 2.60% previously. This decision was anticipated, and this increase by 25 base points goes in line with the previously voiced RBA policy. This is the seventh increase in a row, so the interest rate has reached the high since April 2013. It seems that the rate is likely to keep growing: the RBA might go on raising it to hold back inflation.
In the comments, the Australian regulator mentioned that the growth of the interest rate is necessary for forming a good balance of supply and demand inside the economic system.
According to RBA expectations, inflation will reach the peak in Q4, hitting 8.00%. In 2023, average CPI is expected to be 4.75%, and in 2024 – 3.00%.
For the Aussie, all said above is a positive supportive factor.
Free Reports:
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
By Michael Timothy Bennett, Australian National University and Elija Perrier, Stanford University A new artificial…
By César León Jr., Washington University in St. Louis NASA’s upcoming Artemis II mission is…
By John Licato, University of South Florida I research the intersection of artificial intelligence, natural…
By JustMarkets As of Friday, the Dow Jones (US30) decreased by 0.77% (for the week…
By JustMarkets At Thursday’s close, the Dow Jones Index (US30) was up 0.07%. The S&P…
By ForexTime Dec 27th: Japan set to release key economic data and BoJ summary of…
This website uses cookies.