RBA Interest Rate Decision

Name: RBA Interest Rate Decision
Start: 2024-11-05
End: 2024-11-05
Location: Australia

Local Time:

Nov 04 2024 |

10:30 pm - 11:00 pm

Location: Australia
Currency: AUD

This event starts in:

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Reserve Bank of Australia (RBA) Interest Rate Decision is one of the most important economic events influencing the Australian dollar quotes. The decision is adopted by the RBA Board.

The Board meetings, during which the country’s monetary policy is determined, are held 11 times a year (monthly, except January). The Board members study the current economic disposition (both the internal agenda and the state of the world economy, as well as the main events that affect the financial and economic conditions), discuss the current monetary policy and vote on monetary policy measures and interest rate.

The Board interest rate decision is announced after the meeting.

The RBA may cut interest rate to help inflation rise to a target level. Conversely, if inflation exceeds the target level, the RBA would try to make the Australian dollar more expensive, for which (in addition to a complex of other measures) the interest rate is raised.

Therefore, each interest rate decision of the Reserve Bank of Australia directly affects the AUD quotes (especially when the rate is changed). A hike decision normally leads to the growth of AUD quotes.

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