More from RBAs Lowe:
- To get inflation to target in 2024 would require substantially higher rates and not be in the national interest.
- Understandable that community thinks peak for rates is now or close at hand
The RBA has kept the rate steady at 4.10% for two consecutive meetings including more recently on August 1. The last time the central bank changed policy was on June 6 when they raised rates from 3.85% to 4.10%.
The AUDUSD is not impacted by the comments as the AUDUSD remains in a 9 pip trading range for the day. It is not alone:
- EURUSD 10 pips
- GBPUSD 13 pips
- USDJPY 23 pips
- USDCHF 16 pips
- USDCAD 16 pips
- NZDUSD 18 pips.