RBA SAVES INTEREST RATE WITHOUT CHANGES
The US dollar is trading in a narrow range, retaining its attractiveness in anticipation of a likely Fed rate hike this month. The dollar index, which measures the value of the US currency against a basket of six major currencies, is trading at 101.65, rebounding from a weekly low of 101.22 on Monday.
Today, the RBA kept the interest rate unchanged, saying that the monetary policy pursued contributes to a steady growth of the economy and the achievement of the inflation target of 2%.
The index of activity in the construction industry of Australia from AIG in February rose to 53.1, from 47.7 in January.
The RBA retained the key interest rate unchanged at 1.5%, as analysts had expected.