The Australian dollar fell against its most major counterparts in the Asian session on Tuesday, after the Reserve Bank of Australia raised its key interest rate as expected and said that the size of future hikes would be determined by the economic data and the outlook for inflation and the labor market.
The policy board of the RBA, headed by Governor Philip Lowe, decided to lift the cash rate target by 50 basis points to 2.35 percent, the highest level since late 2014.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.