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Australia Central Bank Holds Rates, Eyes Local Dollar

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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

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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