Open Demo Account
Home / Market Update / Forex Market / RBA steers rates on a steady course at 3.60% in April

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.

Tags

Check Also

Sterling Rebounds Following Softer US PCE Data

The Pound Sterling bounces back strongly above 1.3400 against the US Dollar after soft US …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends