Aussie falls after RBA's expected rate decision

Economies.com
2021-02-02 17:51PM UTC

The Australian dollar fell on Tuesday, following the expected interest rate decision, however, the RBA hinted that it will fix it near zero until 2024.

 

The Reserve Bank of Australia decided today to hold the interest rate at 0.10% unchanged, which was widely expected in the market.

 

The bank stated that the economy is still impacted by the Covid-19 pandemic, which requires extending the bonds buying program.

 

The bank also hinted that the interest rate will be held near zero and the bonds buying program will be kept at $100 billion, despite improved employment and inflation outlook.

 

The RBA also cut its forecast for the unemployment rate to 6% by the end of 2021 compared to 6.5% in past 3 months.

 

As of 17:39 GMT, AUDS/USD fell 0.5% to 0.7582, after hitting a high of 0.7662 and a low of 0.7564.

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