When is the RBA Interest Rate Decision and how could it affect AUD/USD? – by anilpanchal7 RBA AUDUSD Events RiskAppetite CentralBanks
The RBA is expected to lift the benchmark interest rate by 50 basis points to 2.35%, mainly to fight inflation and match the tune with other major central banks. However, the odds of disappointing markets with 0.25% interest rate lifts aren’t out of the table and hence the AUD/USD traders are on the edge ahead of the meeting announcements.
As per the latest Aussie data, inflation jumped to the highest in three decades while the Unemployment Rate dropped to the lowest in 50 years. The problem, however, is with the housing market as Home Loans plunged by 8.5% in July, the second-largest fall in two decades. It should also be noted that the Participation Rate and net employment also cooled down recently, which in turn underpin the recession fears should the rate hike continues.
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