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RBA leaves interest rates unchanged

Tuesday, Apr 05 2016
The Reserve Bank of Australia held its cash rate at a record low 2.0% as expected on Tuesday, but noted that new information should allow a better assessment of the labor market. At today's meeting, the Board judged that there were reasonable prospects for continued growth in the economy, with inflation close to target. The Board therefore decided that the current setting of monetary policy remained appropriate.
Over the period ahead, new information should allow the Board to assess the outlook for inflation and whether the improvement in labour market conditions evident last year is continuing. Continued low inflation would provide scope for easier policy, should that be appropriate to lend support to demand.
 
Aussie is currently being traded around 0.7580 area. Pair is likely to find support around 0.7530 handle and resistance above 0.7630 level. Later today, in the US session, Trade Balance, Non-Manufacturing PMI and JOLTS Job Openings figures are scheduled for a release.
More in this category: « Eurozone Unemployment Rate stable at 10.3% Spanish Services PMI rose to the highest level since November »

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