Currency Note Worldwide

Australia keep interest rates at low

By Ricky Bean November 6th, 2013

Elsewhere yesterday, we saw the Australian dollar weaken against sterling following the announcement from the Australian central bank thank interest rates will be held at the record low of 2.5%. The Governor of the Reserve Bank of Australia, stated that the Australian dollar remained ‘uncomfortably high’, claiming that a weaker currency will be necessary to achieve balanced growth. The Canadian dollar also struggled, approaching its weakest level in 2 months as the benchmark price for crude oil, Canada’s biggest export, dropped. The Romanian leu also logged substantial losses, as interest rates were cut by 0.25% – the fourth consecutive rate cut by the central bank. Early this morning we had trade balance figures out of Australia, and later today we have building permit data out of Canada, as well Purchasing Managers Index economic health survey results. Get in touch with your trader for a live rate.