Policy meeting the Reserve Bank of Australia (RBA) today (3/11) assessed some parties as a significant moment for the central bank in 2015. Ahead of the announcement after the meeting at 10.30 later, the Aussie traded higher, particularly against the US Dollar and Yen
AUD / JPY recorded gains two consecutive days despite their low Caixin China Manufacturing PMI yesterday, jumped to the 86.50 region. Meanwhile, despite sluggish at the beginning of Monday's Asian session, but in today's early Asian session the AUD / USD traded up to around 0.7165, the highest level since October 28. In addition due to the weak US dollar after the release of the ISM Manufacturing PMI last night, the market also anticipate the RBA will maintain the level of interest rates ever.
Most analysts rate the RBA will leave interest rates at a rate of 2 percent for this occasion. Only 12 of the 29 economists surveyed by Bloomberg expect there will be a rate cut to 1.75 percent.
Despite sluggish economic growth and inflation, but the central bank has so far seem quite satisfied on the contribution of the low exchange rate of AUD to sustain non-mining sector. Most experts also predict the RBA's board of governors will ignore CPI jebloknya third quarter released last week.
Kathy Lien of BK Asset Management also expects the RBA will not raise interest rates, but he told the Sydney Morning Herald that "Although the RBA can allow a fixed rate, (but) there is reason to be dovish, and comments (impressed) carefully could push the Australian dollar (to level) is lower. "
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