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At its November monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) board members slashed the official cash rate (OCR) to a record low of 0.10% from 0.25% previous, as widely expected.

The central bank also announced an expansion to its asset purchases program, quantitative easing (QE), by AUD100 billion.

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About RBA rate decision

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.