Australian Dollar: RBA keeps door open – Rabobank
Rabobank's Senior Macro Strategist Bas van Geffen reports that the Australian Dollar (AUD) slipped briefly after the RBA left its policy rate unchanged, as markets interpreted the statement and downgraded growth and inflation forecasts as dovish.
The Australian Dollar (AUD) experienced a short-term decline following the Reserve Bank of Australia's (RBA) decision to maintain its policy rate, according to Rabobank's Senior Macro Strategist Bas van Geffen. The market interpreted the RBA's statement as dovish, leading to downgraded growth and inflation forecasts. However, Governor Bullock emphasized that another rate hike is "quite possible" during a press conference, acknowledging that the economy remains above capacity.
Despite the initial decline, Rabobank's Australia strategist anticipates one more rate increase in November.
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