RBA GOVERNOR BULLICK TO ADDRESS PRESS CONFERENCE AFTER INTEREST RATE DECISION RBA Keeps Interest Rate at 4.3
RBA GOVERNOR BULLICK TO ADDRESS PRESS CONFERENCE AFTER INTEREST RATE DECISION
RBA Keeps Interest Rate at 4.35%:
The Reserve Bank of Australia (RBA) left the Official Cash Rate (OCR) unchanged at 4.35%, maintaining this for the ninth consecutive meeting.
Governor Michele Bullock’s Press Conference:
RBA Governor Michele Bullock is set to hold a press conference to explain the decision and provide insight into the future outlook.
Dovish Pivot Expected:
The RBA softened its hawkish tone, hinting at a potential dovish pivot early next year amid mixed economic signals.
Economic Conditions and Inflation:
While inflation remains high, the board noted signs of easing inflationary pressures, but uncertainty remains in global economic conditions.
AUD/USD Reaction:
Following the rate decision, the Australian Dollar (AUD) weakened, with the AUD/USD pair dropping by 0.87%, trading at 0.6381.
Future Rate Cut Speculation:
Weak Q3 GDP growth has led markets to speculate a possible rate cut in April 2025, with a 96% probability priced in.
Market Focus on Bullock’s Comments:
Governor Bullock’s comments on inflation and economic risks will be critical in shaping expectations for future rate decisions and the Australian Dollar's outlook.
