Reserve Bank Of Australia Keeps Interest Rates Unchanged!

The RBA has decided to keep rates unchanged at 3.25%. This somewhat surprising decision came with some qualifying comments:

• Many countries to experience further fall in output.
• Global credit markets have improved.
• Sentiment remains fragile.
• Banking systems in major countries under pressure.
• Soon to see the effects of global rate cuts.
• Mortgage rates are at very low levels.
• Financial system remains strong.
• Inflation likely to decline over time.

The market has reacted favorably to this decision shooting up the AUD across the board. Looking at the hourly retracement we examined before the decision we see the pair broke the 21 hr mavg in anticipation of a halt in easing or at least only a 25 basis cut and proceeded to .64 cent handle, where there seems to be some resistance from yesterday’s highs. We will look for the AUD to continue to appreciate based on the strength of the economy in relation to other major economies around the world.

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Comment by Ali

2009-03-14 15:13:43

if i invest 30000austalian dollar in your bank than how much profit i can get monthly

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