The Australian Dollar rose quickly. Overview for 03.07.2018
On Tuesday afternoon, AUDUSD is being corrected; another meeting of the Reserve Bank of Australia is over.
The Australian Dollar is recovering against the USD on Tuesday. The current quote for the instrument is 0.7392.
Another meeting of the Reserve Bank of Australia was over today. Nothing really changed in the regulator’s monetary policy: the key rate remained the same, at 1.50% and the RBA’s comments that followed the meeting were mostly quite common.
Like before, the regulator said that the rate value was exactly the same as the country’s economy and inflation required. Also, the RBA thinks that the global economic outlook at the moment seems much more complicated due to the US foreign trade policy. Another thing that worries the RBA is escalation of tensions in some developing countries.
The RBA’s view on the inflation doesn’t change: the regulator believes that the inflation may remain low for some time and is unlikely to reach and pass the target of 2%. The labor market is estimated as positive, as well as leading indicators. The RBA is expecting the unemployment rate to decrease slowly, the same can be said about salaries.
The GDP forecasts are also the same, about 3% this and next years.
It looks like that the Aussie was quite happy: this time, the regulator said nothing about the national currency’s being too expensive and its influence on the GDP growth.
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