RBA Rate Statement

RBA Rate Statement

The Reserve Bank of Australia will announce its rate decision at 6:30 a.m. MT time. Most likely the board will maintain its current monetary policy and leave its official benchmark rate unchanged. Even if there are no changes, the market participants shouldn’t discard the impact of the event on the Australian currency. Keep a close on the wording of the RBA’s statement. If hawkish tone is detected, it will be positive for the Australian dollar. If the central bank officials voice their concerns over a rising AUD, it won’t be welcomed by the market. In this case the Aussie dollar will get hurt.

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