AUD/USD Ahead of RBA Monetary Policy Announcement

The markets are keeping an eye on the RBA’s March meeting minutes for more information about its policies. Last week the RBA kept rates at a record low of 0.1%, citing the Ukraine crisis as a new uncertainty. Also, governor Lowe had previously mentioned that he wants to see a couple more CPIs reports before deciding on rates.

The RBA statement reiterated a dovish message with the Board seemingly prepared to be patient in the near future. After ending its bond-buying scheme last month, the RBA is trying to push back against expectations for an early rate rise. The markets anticipate June as the earliest date for a potential hike.