The Australian dollar weakened against major currencies after the release of the Reserve Bank of Australia’s (RBA) meeting minutes. The minutes revealed a more dovish stance than some investors had anticipated, suggesting the central bank is in no rush to raise interest rates further.

The RBA’s cautious language centered on concerns about the global economic outlook and its potential impact on Australian growth. Policymakers noted that while the domestic economy remained resilient, downside risks had increased. This assessment tempered expectations of aggressive monetary tightening.

Analysts interpreted the minutes as signaling a period of policy stability. The currency’s decline reflects a market repricing of future interest rate expectations, with traders now anticipating a slower pace of rate hikes compared to previous forecasts.