The interest rates decision for Australia has been announced today by the country’s Reserves Bank.
The announced rate remained steady at 4.75% which is what the market expected. Some analysts have estimated that there could have been potential 0.25 points hikes but they have proven to be wrong. The announcement of the decision did not generate any significant volatility as it was vastly expected.
The Interest Rate Decision which are usually announced by a country’s central or reserves bank are a major factor for the country’s economy. An interest rate hike or a hawkish outlook about the country’s inflation is usually viewed as hawkish and associated by a hawkish behavior of the currency.