RBA releases Rate Statement

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On June 1, the Reserve Bank of Australia made a Rate Statement. The bank lefts it's Cash Rate at 0.10%. However, the main news were at the end of the statement, as the bank revealed that it would continue to keep borrowing costs low until the middle of 2024.

Quoting the statement: "The Board is committed to maintaining highly supportive monetary conditions to support a return to full employment in Australia and inflation consistent with the target. It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. For this to occur, the labour market will need to be tight enough to generate wages growth that is materially higher than it is currently. This is unlikely to be until 2024 at the earliest."

Full Official Release

Statement by Philip Lowe, Governor: Monetary Policy Decision

The event caused an almost 23 pip dip on the AUD/USD currency exchange rate. However, the rate managed to recover by 08:00 GMT.

Initial Reaction

Larger scale situation

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Actual Topics

Thu, 03 Jun 2021 08:45:37 GMT

GBP moves due to Services PMI

On Thursday, at 08:30 GMT the GBP/USD suddenly moved upwards by 16 base points. The move started, as the Markit UK Final Services Purchasing Managers Index was released. The data came in at 62.9 instead of the forecast 61.8.

Mon, 31 May 2021 12:34:55 GMT

31.05.-04.06. Event Historical Reactions

The weeks notable events are set to start on Tuesday morning, as the Reserve Bank of Australia is set to publish its Cash Rate at 04:30 GMT. The Australian Dollar is bound to adjust to the news. On the same day, the Canadian GDP release at 12:30 GMT is set to impact the value of the Canadian Dollar. On Thursday, expect the

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