The Reserve Bank of Australia (RBA), at its November 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, “a majority of the 36 economists surveyed expect the Reserve Bank of Australia (RBA) to keep its benchmark rate at 0.75% at its Nov. 5 policy review.”
The decision was on expected lines and therefore, failed to move the Australian Dollar, with the AUD/USD pair keeping its range around 0.6885 region, as the bears continue to guard the 0.6900 barrier.
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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