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The RBA held its cash rate at 10 basis points and kept its bond purchase program unchanged at its May 4 meeting. It raised its GDP growth forecast on a stronger-than-expected recovery and noted that the AUD remained near the upper end of its recent range.
Stable, accommodative Australian policy keeps the AUD supported by commodity prices, which marginally affects the cost of Australian feed grain exports.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaMay 4, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
