Australian dollar rises after RBA's decision

Aussie rose against greenback after a widely expected decision by the RBA, in which the central bank set the interest rates unchanged at 1%.

The Reserve Bank of Australia (RBA) stated that the unemployment rate is not declining in line with forecasts, but confirmed that another rate cut might happen if needed.

The RBA has cut interest rates twice this year in June and July, while the markets are still hoping for a third in the coming period.

Governor of the Bank, Philip Lowe, expressed his hopes on the recovery of the economy and the unemployment rates, which have big impact on average incomes.

Lowe also revealed his forecast about the unemployment rate in the next two years, which he expects will fall to 5% from 5.2% during the meantime, which is still lower than the bank's target at 4.5%.

As of 16:08 GMT, AUD/USD rose by 0.2% to 0.6766, with a high of 0.6801 and a low of 0.675.