How Will Reserve Bank of Australia Affect AUD to USD Exchange Rate?

The Reserve Bank of Australia (RBA) interest setting meeting is scheduled to take place tonight, Tuesday, June 6th at 04:30 GMT(07:30 MetaTrader time).

In May, the RBA kept its benchmark cash rate unchanged at a record low of 1.5% percent, in line with market expectations. Policymakers expect Australia’s economic growth to increase by approximately 3% over the next couple of years and inflation is estimated to rise further gradually.

If the central bank raises its interest rate, this will be seen as bullish for the Australian Dollar to US Dollar (AUD/USD), and will likely result in a sharp increase in the currency pair.

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