According to the latest Reuters poll, a majority of the 32 economists polled saw the central bank cut rates to 0.5% before June, with three predicting deeper cuts to 0.25%.
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.
Despite the decision being on expected lines, the Australian Dollar caught a fresh bid-wave, driving the AUD/USD pair back above the 0.67 handle.
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