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RBA left interest rates unchanged

Tuesday, Oct 06 2015
Australia's central bank left interest rates unchanged on Tuesday for a fifth straight month in a widely expected 
move and offered no clues to indicate it may change its steady stance any time soon. The Reserve Bank of Australia (RBA) kept the cash rate at a record low 2.0 percent, where it has been since the last cut in May. In a brief statement that was almost identical to the September note, the RBA reiterated that it would look to upcoming data to judge if the current policy setting needed to be adjusted. 
 
"The available information suggests that moderate expansion in the economy continues," the RBA said."Overall, the economy is likely to be operating with a degree of spare capacity for some time yet, with domestic inflationary pressures contained."Given this backdrop, the RBA said monetary policy needed to be accommodative, a view it has repeated in previous meetings.
 
Aussie is currently being traded few points above 0.7120 level. Pair is likely to find support around 0.7080 area and resistance above 0.7160 level. Later today, in the US session, Trade Balance figures are scheduled for a release.
More in this category: « Australian Trade Balance deficit widen in August German Factory Orders decreased by 1.8% »

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