17 Mar 2015
RBA minutes pave way for potential additional easing – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that RBA meeting minutes earlier confirm the view that Australia might see further easing in the coming months.
Key Quotes
“RBA board minutes paved the way to potential additional easing after this month's surprise rate hold against the expected 2nd consecutive rate cut.”
“Minutes said a new cut may become appropriate, the economy is operating with spare capacity, and non-mining investment is subdued for longer than expected, while also noting the risks of a property market bubble, preferring to allow the markets to digest the February rate cut before moving again.”
“On exchange rate, RBA reiterated AUD is still above most estimates of fundamental value. AUD/USD fell about 30pips to 0.7610 on the release.”
Key Quotes
“RBA board minutes paved the way to potential additional easing after this month's surprise rate hold against the expected 2nd consecutive rate cut.”
“Minutes said a new cut may become appropriate, the economy is operating with spare capacity, and non-mining investment is subdued for longer than expected, while also noting the risks of a property market bubble, preferring to allow the markets to digest the February rate cut before moving again.”
“On exchange rate, RBA reiterated AUD is still above most estimates of fundamental value. AUD/USD fell about 30pips to 0.7610 on the release.”