3 Sep 2013
Flash: RBA offers nothing new for the AUD - NAB
FXstreet.com (Barcelona) - According to NAB, the RBA statement remains with an easing bias, despite some commentators may argue otherwise after today's policy statement release.
Key Quotes
"Fact last sentence is identical to last time in our view means easing bias is maintained even though some may try and infer that means they are more neutral than last month in light of the subsequent minutes that shows a preparedness to ease further if not right away."
"Also note that they continue to try talk the currency down, saying 'It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy'. Really nothing new for rates or FX markets in the statement."
Key Quotes
"Fact last sentence is identical to last time in our view means easing bias is maintained even though some may try and infer that means they are more neutral than last month in light of the subsequent minutes that shows a preparedness to ease further if not right away."
"Also note that they continue to try talk the currency down, saying 'It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy'. Really nothing new for rates or FX markets in the statement."