AUD held early losses after the RBA kept benchmark interest rates steady, in line with market expectations. What’s next for AUD/USD and AUD/NZD?
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Oct 3, 2023Sep 26, 2023The Australian dollar held early losses after the Reserve Bank of Australia kept benchmark interest rates steady, in line with market expectations.remains still too high and the labour market remains strong. The central bank maintained its central forecast for inflation returning to the 2-3% target range by late 2025.
Australia's CPI accelerated to 5.2% on-year in August, significantly above the central bank’s 2-3% target range. The recent sharp rise inprices poses upside risks to RBA’s inflation forecast and keeps alive the possibility of one more rate hike in this cycle. Markets are pricing in one moreMeanwhile, tentative signs of a trough in manufacturing activity in China are emerging - factory activity expanded for the first time in six months in September.
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