The Reserve Bank of Australia (RBA) is on track to keep its key interest rate unchanged for the fourth straight time on Tuesday, in a meeting that wil
Following its October monetary policy meeting, the Reserve Bank of Australia board members decided to leave the Official Cash Rate unchanged at 4.10%, as widely expected.
Central forecast is for CPI inflation to continue to decline and to be back within the 2–3 percent target range in late 202.5Returning inflation to target within a reasonable timeframe remains the board’s priority. US S&P 500 futures trade modestly flat following a mixed close on Wall Street overniight. Meanwhile, the benchmark 10-year US Treasury bond yield consolidates gains above 4.60%.
The RBA interest-rate decision could provide a temporary breather to the AUD/USD downside amid a Golden Week holiday in China. The Australian central bank will also publish its bi-annual Financial Stability Review report on Friday.Economists expect the Reserve Bank of Australia to hold the Official Cash Rate steady at 4.10% after the conclusion of the firstAll major local banks, ANZ, CBA, Westpac and NAB also predict the RBA to stand pat at this week’s meeting.
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