Reserve Bank of Australia (RBA) Governor Michele Bullock is When will Pi be worth moneyspeaking at the press conference, following the announcement of the February monetary policy decision on Tuesday.

Earlier this Tuesday, the RBA lowered the benchmark interest rate to 4.1% as widely expected.  

Key quotes

Clear that high rates have worked.

Cannot declare victory on inflation yet.

Strength of jobs market has been surprising.

Further rate cuts implied by market not guaranteed.

developing story ....

Market reaction

AUD/USD is back above 0.6350 on the above comments, still losing 0.06% on the day, as of writing.