The Australian Dollar (AUD) has weakened following the RBA’s latest policy meeting.
The Australian Dollar has weakened following the RBA’s latest policy meeting. Economists at MUFG Bank analyze Aussie’s outlook. RBA to begin cutting rates during the second half of this year The RBA left their policy rate unchanged for the third consecutive meeting at 4.35%. However, the RBA softened their guidance over the likelihood of further rate hikes in the updated policy statement.
The updated guidance from the RBA has made us more confident that the RBA has reached the end of their rate hike cycle although the risk of one final hike can’t be completely ruled out. We expect the RBA to begin cutting rates during the second half of this year. Unlike other major central banks like the Fed, the RBA is expected to be slower to lower rates.
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