On Tuesday, as widely expected, the RBA cut the official cash rate by 0.25% down to a record low of 2%. In the day or so since, the Australian markets haven’t exactly been following the script as written by the RBA. Interest rate cut normally equals a rally in equities and fall in currency. The …
Australia cut interest rates to a fresh record low in response to a weak economic outlook and to discourage further strengthening in the currency. Governor Glenn Stevens and his board lowered the key rate to 2 percent from 2.25 percent, the Reserve Bank of Australia said in a statement Tuesday. The move was predicted by …
RBA Cites Weak Growth Outlook in Cutting Cash Rate to 2% Read More »
Australia’s dollar held its longest losing streak in a month as investors bet the central bank will decide to cut interest rates that are already at a record low. Swaps markets give better than 70 percent odds the Sydney-based Reserve Bank of Australia will lower the cash rate target on Tuesday to 2 percent from …
AUD/USD Remains Steady Around 0.7850 as RBA Decision Looms Read More »
Traders and economists are the most united they’ve been this year that central bank Governor Glenn Stevens needs to cut rates Tuesday in the face of a stronger currency. The market is pricing in a better than 75 percent chance borrowing costs will fall to a fresh record of 2 percent and 25 of 29 …
