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RBA steers rates on a steady course at 3.60% in April

Adel 4 April, 2023 11:45 am Forex Market, Market Update

At its April monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to leave the Official Cash Rate (OCR) unchanged at 3.60% after ten consecutive interest rate hikes so far.

Markets had placed around an 85% chance the central bank will stand pat on rates this Tuesday.

AUD/USD takes offers to renew intraday low near 0.6755 as it stretches the Reserve Bank of Australia (RBA) induced losses amid the early hours of Tuesday’s European session. In doing so, the Aussie pair justifies the central bank’s dovish play, as well as takes clues from the downbeat sentiment and a corrective bounce of the US Dollar.

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