<\/p>\n
The Reserve Bank of Australia (RBA) published the minutes of its 18 June policy meeting last night that confirmed that board ultimately saw the case for a hold, ING\u2019s FX strategist Francesco Pesole notes.<\/p>\n
\u201cRBA published the minutes of its 18 June policy meeting last night. It was confirmed that board discussed raising rates but ultimately saw the case for a hold as the \u201cstronger one\u201d, although it is not ruling anything in or out in terms of future policy moves.\u201d<\/p>\n
\u201cRemember that the meeting was followed by a major inflation surprise in the May read, which rose from 3.6% to 4.0% year-on-year. There is a non-negligible risk the RBA<\/a> will raise rates again (around 50% priced in by November), and the second quarter\u00a0CPI report on 31 July will be a make-or-break event. Another inflation surprise and a rate hike will be a very tangible possibility.\u201d<\/p>\n “That possibility is keeping us confident that the Australian Dollar (AUD) will have a strong summer. As we see US macro data endorsing rising dovish bets in the US, we think high-beta currencies can do well and markets will reward especially those that can count on hawkish domestic central banks. A move to 0.68 in AUD\/USD<\/a> remains our base case.”\u00a0\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The Reserve Bank of Australia (RBA) published the minutes of its 18 June policy meeting last night that confirmed that board ultimately saw the case for a hold, ING\u2019s FX strategist Francesco Pesole notes. Rate hike isn\u2019t ruled out \u201cRBA published the minutes of its 18 June policy meeting last night. It was confirmed that […]<\/p>\n","protected":false},"author":2,"featured_media":7798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[377,299,201,248,251,246,257,2321,255,250,252,247,253,378,249,256,254],"class_list":["post-335993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-audusd","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-fundamental-analysis","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-rba","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=335993"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335993\/revisions"}],"predecessor-version":[{"id":335994,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335993\/revisions\/335994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7798"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=335993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=335993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=335993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}