The AUD/USD currency pair rose slightly to about $0.625 this Monday, with investors looking forward to the upcoming details from the Reserve Bank of Australia’s December meeting, which will be revealed on Tuesday.
RBA Holds Rate Forecasts Potential Cut
Earlier in the month, the central bank decided to maintain the main interest rate at 4.35%, which was expected by most. Unexpectedly, the Reserve Bank of Australia also suggested they might lower interest rates in February next year to help the economy grow.
In other recent developments, November saw a 0.5% increase in private sector credit in Australia from the previous month, the largest rise in four months. This shows strong borrowing and sustained economic demand.