Australian dollar suffers amid rate hike speculation dismissal

Australian dollar suffers amid rate hike speculation dismissal

The Reserve Bank of Australia's decision to maintain interest rates and its outlook for the near future have impacted the Australian dollar, with markets slashing the probability of a rate hike to 13%. ANZ's head of Australian economics, Adam Boyton, suggested a potential delay in the easing cycle, favouring November for rate cuts, with only three expected in total.