Breaking: AUD/USD jumps as RBA keeps rates on-hold, maintains tapering plans

FXStreet Team FXStreet

The Reserve Bank of Australia (RBA) board members kept the official cash rate (OCR) steady at a record low of 0.10% at their September monetary policy meeting,

The central bank said that it will continue with the tapering of the bond-buying programme.

The RBA said that the central scenario is no rate rise before 2024.

FX implications

The AUD/USD pair jumped 30-pips on the RBA decision.

The spot was last seen trading at 0.7466, up 0.36% on the day.

About RBA rate decision

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

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FXStreet Team

FXStreet

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