RBA Monetary Policy Statement: Further rate hikes may be needed
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The RBA Monetary Policy Statement released by the Reserve Bank of Australia is out as follows:
H1 chart above and M5 chart below.
AUD/USD has been given a boost on the statements towards 0.6717, Tuesday’s high.
The RBA Monetary Policy Statement released by the Reserve Bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negative (or bearish).
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