The Reserve Bank of Australia (RBA), at its December monetary policy meeting held this Tuesday, maintained its official cash rate (OCR) at a record low of 0.75%, as widely expected.
According to the latest Reuters poll, the median of the 39 economists polled saw the central bank only hiking rates in Q1 2020 now.
The decision was on expected lines and therefore, failed to move the Australian Dollar immediately but in a delayed reaction, the AUD/USD pair extended Monday's surge to hit three-week tops near 0.6845.
About RBA Rate Decision
RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
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