RBA holds key rate at a record low of 0.10% in May, AUD/USD unfazed

The Reserve Bank of Australia (RBA) board members decided to leave the official cash rate (OCR) on hold at a record low of 0.10% after concluding their May monetary policy meeting,

A Reuters poll showed last week, “all but one of 25 economists surveyed see no change to policy at the Reserve Bank of Australia's (RBA) May 4 board meeting. One economist predicted a 5-basis point cut to 0.05%.”

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About RBA rate decision

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.