The Reserve Bank of Australia (RBA) kept interest rates unchanged at a record low 2.75 percent on Tuesday, in line with market expectations that a weaker Australian dollar would prevent them from making a cut.
July’s decision marks the second month in a row that the RBA has left interest rates unchanged after making a 25 basis point cut in May – it’s only move this year. The central bank, however, maintained its easing bias saying that there was scope for future easing and it expects the Australian dollar to fall further.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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