The final reading of Australia's Judo Bank Services Purchasing Managers Index (PMI) improved to 54.4 in March from the previous reading of 53.5, the latest data published by Judo Bank and S&P Global showed on Thursday.
The final reading of Australia's Judo Bank Services Purchasing Managers Index improved to 54.4 in March from the previous reading of 53.5, the latest data published by Judo Bank and S&P Global showed on Thursday. The Judo Bank Australian Composite PMI rose to 53.3 in March versus 52.4 in the previous reading. Additional takeaways “Output index rising to a new cyclical high of 54.4. This is the fourth consecutive month of improvement, with the services output index increasing by 8.
How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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