Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Australia's RBA cuts rate by 50 basis points *PIC*

Australia's RBA cuts rate by 50 basis points (by Sarah Turner)

SYDNEY (MarketWatch) -- Australia's central bank cut its policy cash rate Tuesday by half a percentage point to 3.75%, surprising markets that had been expecting a quarter-point cut. "In considering the appropriate size of adjustment to the cash rate at today's meeting, the board judged it desirable that financial conditions now be easier than those which had prevailed in December," said Reserve Bank of Australia Gov. Glenn Stevens in a statement accompanying the decision. "A reduction of 50 basis points in the cash rate was, in this instance, therefore judged to be necessary in order to deliver the appropriate level of borrowing rates," Stevens said. The Australian dollar (CUR_AUDUSD) fell following the announcement to $1.0334 from $1.0398 while the S&P/ASX 200 stock index (AU:XJO) traded up 0.9% at 4,437.00.