{"id":705549,"date":"2023-04-04T15:40:28","date_gmt":"2023-04-04T05:40:28","guid":{"rendered":"https:\/\/www.gomarkets.com\/?p=705549"},"modified":"2024-09-26T11:06:33","modified_gmt":"2024-09-26T01:06:33","slug":"rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/","title":{"rendered":"RBA leaves cash rate unchanged but leaves the door open for future hikes if needed"},"content":{"rendered":"<p>After 10 hikes on the trot and what will no doubt be a relief for mortgage holders the RBA held the official cash rate at 3.60%. The rate decision was fully priced in by the futures markets , so no great surprise on the actual decision , it\u2019s the accompanying statement where investors look for clues as to future RBA actions that will set the short to mid-term tone of the FX and Equity markets.<\/p>\n<p>The statement did leave the door open for further rate hikes with the line \u201cfurther tightening of monetary policy may well be needed to ensure that inflation returns to target\u201d indicating to the market to not take for granted that Australian rates have peaked just yet.<\/p>\n<p>Though there was a subtle word change from the previous March statement which traders saw as a dovish sign. Tha March statement said \u201c<em>will<\/em> be needed\u201d which has change to \u201c<em>may<\/em> well be needed\u201d<\/p>\n<p>A small difference, but a huge clue in the arcane skill of deciphering Central Bank communications. The AUDUSD behaved fairly predictably, a knee jerk drop on the actual rate announcement, followed by a step retrace as the machines and humans took few seconds to decide whether the statement was hawkish or not, before deciding on the \u201cnot\u201d and seeing the AUDUSD resume its downtrend.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-400540\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2023\/04\/aud.png\" alt=\"\" width=\"1552\" height=\"727\" \/><\/p>\n<p>The ASX 200 index saw a mirror reaction to the AUD with the difference being the initial spike was not retraced, showing that equity traders were happy with the RBA taking their foot off the accelerator , even if it just temporary.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-400542\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2023\/04\/asx2002.png\" alt=\"\" width=\"1553\" height=\"728\" \/><\/p>\n<p>One thing to remember that the AUD \u00a0normally trades as a proxy for global growth risk, ebbing and flowing on risk sentiment \u00a0\u00a0any moves from this decision could be short lived as other market forces take over.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After 10 hikes on the trot and what will no doubt be a relief for mortgage holders the RBA held the official cash rate at 3.60%. The rate decision was fully priced in by the futures markets , so no great surprise on the actual decision , it\u2019s the accompanying statement where investors look for [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2805],"tags":[],"class_list":["post-705549","post","type-post","status-publish","format-standard","hentry","category-central-banks"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBA leaves cash rate unchanged but leaves the door open for future hikes if needed - Wixad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBA leaves cash rate unchanged but leaves the door open for future hikes if needed - Wixad\" \/>\n<meta property=\"og:description\" content=\"After 10 hikes on the trot and what will no doubt be a relief for mortgage holders the RBA held the official cash rate at 3.60%. The rate decision was fully priced in by the futures markets , so no great surprise on the actual decision , it\u2019s the accompanying statement where investors look for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/\" \/>\n<meta property=\"og:site_name\" content=\"Wixad\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-04T05:40:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-26T01:06:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2023\/04\/aud.png\" \/>\n<meta name=\"author\" content=\"Lachlan Meakin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lachlan Meakin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/\"},\"author\":{\"name\":\"Lachlan Meakin\",\"@id\":\"https:\/\/www.gomarkets.com\/es\/#\/schema\/person\/3be9f4cfdfb1cf0fc5ca416d0ad05509\"},\"headline\":\"RBA leaves cash rate unchanged but leaves the door open for future hikes if needed\",\"datePublished\":\"2023-04-04T05:40:28+00:00\",\"dateModified\":\"2024-09-26T01:06:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/\"},\"wordCount\":312,\"publisher\":{\"@id\":\"https:\/\/www.gomarkets.com\/es\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2023\/04\/aud.png\",\"articleSection\":[\"Central Banks\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/\",\"url\":\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-pauses-and-leaves-rates-unchanged-but-leaves-the-door-open-for-more-if-needed\/\",\"name\":\"RBA leaves cash rate unchanged but leaves the door open for future hikes if needed - 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Yield differentials pushing this pair higher","date":"2023-04-11 14:10:57","excerpt":"After 10 hikes on the trot and what will no doubt be a relief for mortgage holders the RBA held the official cash rate at 3.60%. The rate decision was fully priced in by the futures markets , so no great surprise on the actual decision , it\u2019s the accompanying statement where investors look for ","link":"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/fx-analysis-usdjpy-yield-differentials-pushing-this-pair-higher\/","type":"next","category":"forex-trading"},"previous":{"id":526217,"slug":"market-analysis-3-7-april-2023","title":"Market Analysis 3-7 April 2023","date":"2023-04-04 09:24:35","excerpt":"After 10 hikes on the trot and what will no doubt be a relief for mortgage holders the RBA held the official cash rate at 3.60%. 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