Australian Dollar Steady, RBA Holds Back from Interest Rate Cuts
The Australian dollar held steady around $0.651 on Tuesday after the Reserve Bank of Australia (RBA) meeting minutes indicated there was no urgency to cut interest rates further. The RBA maintained its benchmark interest rate at 3.6% until September 2025, following a small 25 basis point cut the previous month. The central bank believes monetary policy remains sufficiently tight, while the impact of previous easing is still being felt in the economy, as evidenced by rising house prices and credit growth.
However, the RBA remains vigilant about existing economic risks, particularly weak household consumption amidst slow wage and employment growth. Meanwhile, business sentiment showed signs of improvement, with the NAB Business Confidence Index rising to 7 in September, the highest in three months and still above its long-term average. (az)
Source: Newsmaker.id