Australian Dollar Rises, Investors Await RBA Decision
The Australian dollar strengthened slightly to around $0.654 on Monday, ending three consecutive sessions of declines. This gain comes ahead of the highly anticipated monetary policy decision from the Reserve Bank of Australia (RBA). The central bank is expected to keep interest rates unchanged after three rate cuts earlier this year, as higher-than-expected inflation data dampened expectations for further easing.
Australia's annual inflation jumped to 3.2% in the third quarter, up from 2.1% in the previous quarter, while a measure of average inflation also increased to 3%. Meanwhile, monthly inflation in October rose 0.3%, a slight slowdown from the previous month. With these data, the probability of an interest rate cut in the near future is very low, and the market is now reducing expectations for further cuts in December and February. (az)
Source: Newsmaker.id
