Australian dollar looking down again. Overview for 06.09.2022

On Tuesday, the Australian dollar is losing positions against its American colleague. The current quote is 0.6775.

At a meeting in September, the Reserve Bank of Australia decided to lift the interest rate from 1.85% to 2.35%, as expected.

The RBA then commented that it would do everything possible to bring inflation to its target level of 2.00-3.00%. In the upcoming months, the RBA will stick to the strategy of increasing the rates, but the parameters of growth and the time when the rate will be increased will be decided upon according to statistics and the situation in the employment sector.

According to official forecasts of the RBA, the CPI will reach its peak at the end of the next year and will then return to the target level. At the same time, inflation expectations remain quite stable.

Evaluations of economy turned out quite positive: the system keeps growing, the national income is expanding while international trade is developing.

For the Aussie, the increase in the interest rate is neutral: everything goes as forecast, and the RBA gives the market no surprises.