At their October monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to keep the official cash rate (OCR) unchanged at a record low of 0.10%.
The board decided to maintain the target of 10 basis points for the April 2024 Australian government bond.
The board decided to continue to purchase government securities at the rate of $4 billion a week until at least mid-February 2022.
FX implications
The AUD/USD pair moved little post the RBA decision, which was on the expected lines.
The spot was last seen trading at 0.7273, down 0.17% on the day.
About RBA rate decision
RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
