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The last monetary policy decision statement from the RBA was on the 5th of February 2019 when Governor Philip Lowe stated that the central bank had decided to keep the cash rate unchanged at 1.50 per cent.
His statement had a relatively moderate tone with the governor expressing concerns over the trade war between China and the US as one of the main reasons for the bank's decision.
This time things are looking up for the Aussie as the global trade disputes seem to be close to resolution. In case that the RBA takes under consideration the changing tone of global economics, we might see a possible rate hike and resulting support for the Australian dollar. However, if the cash rate remains unchanged yet again, then any major price swings in the short-term are less likely.
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