{"id":86035,"date":"2024-06-18T11:33:22","date_gmt":"2024-06-18T08:33:22","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=86035"},"modified":"2024-06-18T15:09:57","modified_gmt":"2024-06-18T12:09:57","slug":"rba-remains-on-hold-as-expected","status":"publish","type":"post","link":"https:\/\/www.smartchinaeducation.com\/vi\/rba-remains-on-hold-as-expected\/","title":{"rendered":"RBA remains on hold as expected"},"content":{"rendered":"

The RBA during today\u2019s Asian session, remained on hold, as was widely expected by market participants. The bank in its accompanying statement stressed that \u201cthe process of returning inflation to target is unlikely to be smooth\u201d. Furthermore, RBA policymakers stated that \u201cthe persistence of services price inflation is a key uncertainty\u201d, which may have been perceived as a willingness by the bank to maintain the current interest rate levels for a prolonged period of time. Therefore, the comments may have provided support for the Aussie. Over in Europe, political uncertainty continues to rise with the first round of the early legislative elections set to occur in France nearing. However, the silver lining may be a recent comment by the opposition party\u2019s leader Le Pen, who according to POLITICO stated that she would not seek Macron\u2019s resignation. Nonetheless, the political turbulence may impact the common currency, as the election date nears. On another political note, a recent poll by YouGov showed Labour in the lead at 37%, yet the ruling Conservative party appears to be neck and neck with the Reform UK party at 18%. The political instability in the UK, could potentially weigh on the pound in the coming week. The US retail sales rate for May, is set to be released later on today. Should the rate come in as expected or higher, it could provide support for the greenback and vice versa.<\/p>\n\n\n\n

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