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The Reserve Bank of Australia left its cash rate unchanged at 1.50 per cent on 1 August 2017. The statement said global conditions were improving, Chinese growth had picked up a little, and commodity prices had generally risen recently.
Holding rates steady keeps the Australian dollar supported by yield, which can weigh on Australian commodity export competitiveness; the commodity commentary is a mild positive for prices of Australian exports.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaAug 1, 2017Not 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.
