RBA keeps key rates at 2%

The Reserve Bank of Australia kept the bank rates unchanged at current level of 2%. The central bank governor, Glenn Stevens reveals a sharp fall in investment in the mining sector, despite the economy showing a robust growth rate.

Since the central bank kept the key rates unchanged, the AUD-USD pair has been appreciating this morning. The pair hit a monthly high at 0.72828. 

"Even if this was probably not what the RBA intended, after all it repeatedly referred to the exchange rate and its essential role for the economy over the past year. However, it intends to wait, wait for the Fed that is, and hope that the US central bank will keep a lid on AUD-USD when it starts to hike interest rates", says Commerzbank.