Forex Ltd Corporate Blog

According to the Australian economists tomorrow the Reserve Bank of Australia, will remain untouched the Cash Rate, its benchmark interest rate which is the overnight money market interest rate, as a result of today`s meeting. While the market is confident the central bank will hold rates steady at its meeting there has been a lot of debate about the period of the next move up. The analysts think, the there is not enough ground to hope for any rate movement till the end of the year and even beyond this time until the second half of 2010, as Australian economy shows its primary signs of recovery after the global recession.

The Reserve Bank of Australia kept the benchmark interest at the same point at 3.00% for the second consecutive month in June, but continued to hold a assertive outlook for future policy as price growth falters.

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