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The Reserve Bank of Australia kept its cash rate unchanged at 1.50 percent at its December 6 meeting. Minutes showed unemployment at 5.6 percent in October and subdued wage growth, while commodity prices had risen over 2016.
A steady rate keeps the Australian dollar supported relative to the US dollar, which slightly raises the cost of Australian feed grain exports. Higher commodity prices noted by the RBA support export income but the effect on feed prices is minor.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaDec 6, 2016Not 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.
