The Australian dollar firmed against its major counterparts in the Asian session on Tuesday, erasing its early losses, after the Reserve Bank of Australia kept its key interest rate unchanged after trimming it for two straight months.
The board of the Reserve Bank of Australia, governed by Philip Lowe, maintained the cash rate at a record low 1.00 percent, in line with forecasts.
"The Board will continue to monitor developments in the labour market closely and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time," the bank said in a statement.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.