The Asian session was quiet and the Australian interest rate decision was the main driver of the session on Tuesday.<\/p>\n\n\n\n
<\/p>\n\n\n\n
The Reserve Bank of Australia (RBA) board members announced no changes to the official cash rate (OCR), leaving it at a record low of 0.10% during their November monetary policy meeting. The board decided to discontinue the target of 10 basis points for the April 2024 Australian government bond.<\/p>\n\n\n\n
Will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range<\/p>
Central forecast is for GDP growth of 3 percent over 2021 and 5\u00bd per cent and 2\u00bd per cent over the following two years.<\/p>
This will require the labour market to be tight enough to generate wages growth that is materially higher than it is currently<\/p>RBA monetary policy statement<\/cite><\/blockquote>\n\n\n\n
The Nikkei index fell 0.43 percent to 29,520.90 points, a day after it achieved its biggest daily gain since June after a strong electoral victory for the ruling coalition led by Prime Minister Fumio Kishida. The broader Topix index fell 0.64 percent to 2,031.67 points.<\/p>\n\n\n\n
There was little change in gold in spot transactions, as it recorded 1793.60 dollars an ounce. US gold futures rose 0.1 percent to $1,796.70.<\/p>\n\n\n\n
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<\/p>\n","protected":false},"excerpt":{"rendered":"
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