Aussie Dollar Rose as RBA Meeting Minutes Weighed on Rate Cut Bets
- November RBA Meeting Minutes Argue for Period of Rate Stability
- Australian Dollar Edges Higher After Minutes Document is Released
- Aussie Gains May Be Linked to Diminished RBA Rate Cut Probability
The Australian Dollarclimbed in the aftermath of the release of minutes from November’s RBA policy meeting. The document showed the central bank continues to see a period of stability in interest rates as the most prudent course for the time being.
Australian economic data has deteriorated relative to economists’ expectations since late September. That may have fueled speculation about an RBA interest rate cut on the horizon. In this context, the text of the minutes may have been interpreted as supportive in that it seemingly undermined the probability of such an outcome.