Investing.com - The Reserve Bank of Australia held its benchmark interest rate at a record low on Tuesday, in a widely expected decision.
In a statement, the RBA said it was maintaining its benchmark interest rate at 2.5%, in line with market expectations. The RBA cut the key rate by 0.25% in August.
In its accompanying rate statement, RBA Governor Glenn Stevens said the Aussie dollar “has fallen 15% since early April, although it remains at a high level.”
“The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the inflation target over time.”
Following the decision, the Australian dollar was higher against its U.S. counterpart, with AUD/USD gaining 0.57% to trade at 0.9030.
Meanwhile, Asian stock markets were higher, with Australia’s ASX/200 Index adding 0.15%, Japan’s Nikkei 225 Index surging 3%, while Hong Kong's Hang Seng Index jumped 1.1%.
In a statement, the RBA said it was maintaining its benchmark interest rate at 2.5%, in line with market expectations. The RBA cut the key rate by 0.25% in August.
In its accompanying rate statement, RBA Governor Glenn Stevens said the Aussie dollar “has fallen 15% since early April, although it remains at a high level.”
“The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the inflation target over time.”
Following the decision, the Australian dollar was higher against its U.S. counterpart, with AUD/USD gaining 0.57% to trade at 0.9030.
Meanwhile, Asian stock markets were higher, with Australia’s ASX/200 Index adding 0.15%, Japan’s Nikkei 225 Index surging 3%, while Hong Kong's Hang Seng Index jumped 1.1%.