The Fed all but confirmed the U-turn that many were expecting. Whilst rates remained on hold, almost half of voting members now see two rate cuts this year.
The RBA’s minutes revealed what many had expected, by stating it’s ‘more than likely’ they’ll have to ease further in the period ahead. Summary From RBA Minutes on Monetary Policy Members judged that a decline in interest rates was unlikely… Read More
After much anticipation, the RBA opted to hold rates at 1.5%, making it the 30-consecutive meeting without a change of policy since lowering rates to record lows. That doesn’t mean they’re out of the woods yet though.
We highlighted in January that a defiant cable could be carving out its low for the year, and price action on EUR/GBP now also points towards Sterling strength.