Reserve Bank of Australia Monetary Policy Statement
Starts Friday, February 8, 2019 at 00:30
Updated Wednesday, February 6, 2019
The Reserve Bank of Australia sounded less dovish on their rate statement on Tuesday, despite the decline in retail sales, as the report released a couple of hours prior to statement release showed. The AUD turned bullish that day, but the speech from the RBA Governor Lowe on Wednesday morning reversed the Aussie back to dovish as his speech suggested that the RBA has now shifted to neutral from slightly hawkish. The statement will shed some light into the RBA insights and if it confirms the Lowe's bias, then the AUD will likely steth the barish move further below. Please follow us for live coverage of this event by experienced market analysts.
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About Reserve Bank of Australia Monetary Policy Statement
The RBA Monetary Policy Statement is a synopsis of current economic conditions prevalent in Australia. It is an assessment of economic growth, capital market performance, and serves as a release of the RBA’s adopted monetary policy.The RBA Cash Rate is the “overnight money market interest rate,” or the “prime rate” assigned to loans in Australia. It is determined by the Reserve Bank Board and released shortly after each meeting concludes. The RBA Cash rate is revisited every calendar month except for January. The primary goals of the RBA are to promote pricing stability and ensure long-term economic growth. Inflationary concerns are addressed directly in the RBA Statements, including measures taken to mitigate any negative impact upon the domestic economy. A hawkish tone toward the Australian dollar (AUD) is viewed as being bullish, while a dovish perspective is widely accepted as bearish.The RBA Monetary Policy Statements are a key market moving event for valuations of the AUD. Heightened volatility is commonplace surrounding the release, with traders and investors forming opinions on future policy moves during the commentary.