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The RBA board kept the cash rate unchanged at 1.50 per cent in its July 2017 decision. The statement said global growth has picked up, commodity prices have risen, and US interest rates are expected to rise further.
It also noted that inflation has softened recently due to lower oil prices.
A steady RBA with expected US rate increases keeps the interest rate gap in play for the Aussie dollar, and lower oil prices weigh on energy-linked costs.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaJul 4, 2017After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
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.
