Australia’s benchmark interest rate is set to stay unchanged at 4.35% in November. The focus remains on Reserve Bank of Australia Governor Michele Bullock’s comments and updated economic forecasts. The Australian Dollar could wilt if RBA Governor Bullock ramps up bets for a December rate cut. The Reserve Bank of Australia is expected to sit tight yet again on its monetary policy, extending the pause into the eighth straight meeting on Tuesday.
6472 will come into play,” Dhwani adds. Economic Indicator RBA Interest Rate Decision The Reserve Bank of Australia announces its interest rate decision at the end of its eight scheduled meetings per year. If the RBA is hawkish about the inflationary outlook of the economy and raises interest rates it is usually bullish for the Australian Dollar . Likewise, if the RBA has a dovish view on the Australian economy and keeps interest rates unchanged, or cuts them, it is seen as bearish for AUD.