Australian Central Bank Holds Rates States Current Policy is Appropriate

Australia’s central bank on Tuesday kept benchmark interest rates unchanged at a record low of 2.5 percent, as expected.

In a statement, the Reserve Bank of Australia (RBA) said its monetary policy was appropriate, adding that past interest rates were still making their way through the economy.

The RBA also said the Australian currency remained “uncomfortably high,” and needed to fall further to achieve a balanced growth in the economy.

The Aussie dollar fell a quarter of a U.S. cent after the statement.

via Australia keeps rates unchanged at record low

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza