Australian Interest Rate Decision – AUD Exchange Rates

Early this morning it was announced that the Australian interest rates were to be left on hold at 2.5% as the majority of analysts had expected. There was an outside chance there may have been a surprise announcement as recent comments from the Reserve Bank of Australia (RBA) Governor Glenn Stevens had hinted at intervention in order to help the Australian economy. These comments are mainly because the RBA are concerned of the strength of the economy outside of the mining sector. A strong demand for Australian raw materials from the buyant Chinese market has helped the Australian economy and therefore the AUD but with public spending low and concerns of possible knock on effects to Australia should America start tapering their bond buying scheme. So, while there has been no change to the interest rates this month it will be interesting to see the Australian Gross Domestic Product (GDP) figures that come out early tomorrow morning. Expectation is for a small drop in these crucial figures and should that drop be bigger than expected we may see some Australian Dollar weakness pushing the exchange rates up even higher than they currently are. Currently rates are close to a 3 year high presenting some excellent buying opportunities.

So, if you need to buy Australian Dollars speak with one of our experienced currency brokers today on 01494 725353 or alternatively email me directly at trh@currencies.co.uk

For all the latest currency news and our opinions on the market outlook you can speak with our experienced currency team. We offer a number of different contract options which can be tailored to clients individual requirements meaning it is likely that whatever your circumstances it is likely we will be able to help no only save you money on your currency transfer but also make the process easy. For more information on all the contract options we can offer please call us on our freephone number 0800 328 5884 or if calling from abroad on 0044 1494 725353 or alternatively email me directly on trh@currencies.co.uk