Breaking: RBA leaves OCR unchanged at 0.25%, AUD/USD regains 0.7200

FXStreet Team FXStreet

The Reserve Bank of Australia (RBA) board members decided to leave its official cash rate (OCR) unchanged at a record low of 0.25% when it met at its October monetary policy review meeting this Tuesday.

“The board decided to maintain the targets for the cash rate and the yield on 3-year Australian government bonds of 25 basis points,” the statement read.

In September, the central bank extended its term lending facility.

FX implications

The RBA status-quo fuelled a 20-pips spike in the Australian dollar, with the AUD/USD pair briefly regaining the 0.7200 mark.

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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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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