The RBA just announced that they are raising rates by 25 BPS to 3.5% as expected. The last line of their statement:
"The adjustments at the October and November meetings will work to increase the sustainability of growth in economic activity and keep inflation consistent with the target over the years ahead."
This suggests they will likely leave interest rates at this level for a while. While the Aussie sold off sharply on the news, there was a lot of volatility and indecision in the market. This leads me to believe that there will be another short term push upwards before the next sharp drop in price.
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