Australia Central Bank Holds Rates, Eyes Local Dollar

April 5, 2016 Share Print 0

Australia’s central bank held interest rates steady for a 10th straight policy meeting on Tuesday, citing evidence of continued growth at home despite an unhelpful rise in the local dollar.

Bucking the worldwide charge toward negative rates, the Reserve Bank of Australia (RBA) kept its cash rate at 2 percent in a widely expected decision.

Again the door was left open to an easing should developments in inflation, unemployment or the global economy warrant it, but there was little sign a move might be imminent.

Reuters

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Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.