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The AUD/USD currency pair rose slightly on the RBA interest rate statement showing no changes monetary policy. The Aussie added 12 base points to resume zigzagging between 0.7680 and 0.7695 marks.
The Reserve Bank of Australia kept its key interest rate at 1.50% for 15th month in succession, as inflation continued lagging behind surging labour market and stronger global economic growth. The Bank’s Governor Philip Lowe suggested that interest rates remaining at their low level are likely to keep supporting the Australian economy on the way to achieving consumer price growth closer to the 2% target. Moreover, the Australian Dollar was still elevated, being a headwind to the country’s stronger economic expansion.
