19 Nov 2013
Flash: RBA minutes explained – Danske Bank
FXstreet.com (London) - A currency research team at Danske Bank explained the highlights of the minutes from the RBA.
Key Quotes:
“According to the minutes from the 5th November meeting of Reserve Bank of Australia (RBA) there is increasing evidence that interest rate cuts have started to work…”
“RBA does not rule out further rate cuts underscoring that it maintains an easing bias. In particular, RBA still regards AUD as overvalued and members noted that ‘a lower level of the exchange rate would be needed to achieve balanced growth’”.
“There was no substantial impact on AUD from the release of the minutes”.
Key Quotes:
“According to the minutes from the 5th November meeting of Reserve Bank of Australia (RBA) there is increasing evidence that interest rate cuts have started to work…”
“RBA does not rule out further rate cuts underscoring that it maintains an easing bias. In particular, RBA still regards AUD as overvalued and members noted that ‘a lower level of the exchange rate would be needed to achieve balanced growth’”.
“There was no substantial impact on AUD from the release of the minutes”.