AUD is growing, though unsystematically. Overview for 04.04.2023

Australian dollar against the US dollar on Tuesday is reacting logically to the RBA decision but the general mood remains positive. The current quote is 0.6755.

At the meeting today, the Reserve Bank of Australia decided to leave the interest rate without a change at 3.6% per annum. Some had expected the rate to grow by 25 base points but the main scenario remained in force.

The RBA commented that further tightening of the monetary policy might be necessary. The effect of these actions shows up with a lag, so by now it has not been fully revealed. The main goal of the RBA is control over inflation, and the regulator is determined to bring prices to target values.

It was decided to keep the rates neutral this month to get more time to assess what is going on in the economy and financial sphere. The RBA is sure that inflation has reached its peak already and in the nearest future the growth of prices on goods will slow down.

For the Aussie, the RBA decision in neutral because the regulator has given signals that further growth of crediting prices is possible.