Following the conclusion of its April monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to keep the official cash rate (OCR) unadjusted at a record low of 0.10%.
The RBA maintained its target of 10 basis points for yield on a 3-year Australian government bond.
The central bank also maintained the parameters for the government bond purchase programme.
The AUD/USD pair failed to react to the RBA’s expected status-quo, hovering just below the 0.7650 region, weaker by 0.05% on the day.
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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