03.05.2016 - The Australian dollar is lower after the RBA decision
Today the Reserve Bank of Australia decided to reduce the key interest rate by 0.25% to 1.75%. Among the reasons that has led to this step are an unexpected decline in consumer price index in Australia by -0.2% for the first quarter of this year, as well as the negative impact of the strengthening of the Australian currency on the country's economic growth. In addition, in the Reserve Bank of Australia are concerned about the ambiguity of the situation on the labor market of the country, as well as the slowdown in the world economy. We forecast the Australian dollar price decrease in the near future to 0.7400 and 0.7240, and an additional incentive for reducing will be the correction on the commodity markets.