Aussie RBA Minutes Boost Temporary
The minutes of the Reserve Bank of Australia’s July meeting have given a modest boost to the Australian dollar, helping push the currency up through 0.9150 against the US dollar. The central bank argued that its previous interest rate cuts, lowering its benchmark rate from 4.75% to 2.75% over the last couple of years, are now having an effect across a range of indicators. Coupled with a lower currency, the RBA therefore judged it should keep interest rates on hold this month.
Read the full report: UBS