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Will the Reserve bank of Australia weaken the AUD?
The Reserve bank of Australia will make its statement and announce the official rate on June 4, at 7:30 MT time.
Analysts anticipate the RBA to cut its interest rate from 1.5% to 1.25%. The chances of a rate cut are high as the Australian economy keeps weakening. The slowdown of the GDP growth, falling house prices and the rise of unemployment are among the key reasons behind the anticipated decision by the RBA. Despite the high chances of the rate cut, the central bank may keep its interest rate unchanged. If it happens, the Australian dollar may get positive momentum.
• If the RBA keeps its interest rate unchanged, the Australian dollar will rise;
• If the RBA cut its interest rate, the Australian dollar will fall.
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The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
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