Aussie Strong After RBA Minutes

  February 19th, 2013 at 12:43

David Unaipon on Australian 50-dollar billThe Australian dollar strengthened after the minutes of the last Reserve Bank of Australia’s policy meeting have been released today. The minutes showed that the accommodative policy was positive for the economy, but additional stimulus remains probable.

The RBA said that “global economic conditions had been a little more positive and the downside risks had abated somewhat”, while the domestic data “had been mixed”. The bank noted the positive effect of the accommodative policy on the economy, but was worried about the high exchange rate of the nation’s currency. In conclusion the central bank stated that the inflation outlook “would afford scope to ease policy further”. The Australian dollar is rising for now, but the prospects for further monetary easing are not bullish for the currency.
Aussie Strong After RBA Minutes Aussie Strong After RBA Minutes Reviewed by Sopheap Chhin on 3:58:00 PM Rating: 5

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