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RBA Unexpectedly Keeps Interest Rate Unchanged at 3.85%; AUD/USD Shoots Up
The Reserve Bank of Australia (RBA) decided by a vote of 6 to 3 to keep the interest rate unchanged at 3.85%, contrary to market expectations of a rate cut.The RBA stated that as i...
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RBA Unexpectedly Keeps Interest Rate Unchanged at 3.85%; AUD/USD Shoots Up
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The Reserve Bank of Australia (RBA) decided by a vote of 6 to 3 to keep the interest rate unchanged at 3.85%, contrary to market expectations of a rate cut.

The RBA stated that as inflation in Australia continues to moderate, the interest rate is already half a percentage point lower than five months ago, and the overall economic conditions are developing largely as expected, it can continue to wait for more data to confirm that inflation can stably reach the 2.5% target.

Related NewsUnemployment Rate for Jun in United States is 4.1%, lower than the previous value of 4.2%. The forecast was 4.3%.
AUD/USD last rose by 0.75% to 0.654 following the announcement of the interest rate decision.

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