The Aussie is rising. Overview for 01.03.2022
AUDUSD is growing after the RBA kept its monetary policy intact.
The Australian Dollar is quickly rising against the USD on Tuesday. The current quote for the instrument is 0.7264.
The way the March meeting of the Reserve Bank of Australia went was quite predictable. The benchmark interest rate remained unchanged at 0.10%, just as expected. In the comments, the regulator reminded that it wasn’t going to raise the rate until inflation reached stability in the range of 2-3%.
The Australian economy is estimated as stable, although the expenses increased after another coronavirus wave. Salaries are growing but this is considered a stabilisation process after the decline earlier. The RBA says that salaries will rise gradually.
It’s still unclear how much time it will take to eliminate supply disruptions. This factor is the key one in the inflation prospects issue.
These rather neutral and standard comments of the Australian regulator were met in a positive way. The Aussie is going up.
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