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RBA releases upbeat Monetary Policy Statement

Written by Sam Coxhead on February 4th, 2011.      0 comments

1:53 AM (AEST) The RBA just released their quarterly Monetary Policy Statement. The AUD jumped 20-30pts on this release against its trading partners. Click here for the full statement http://www.rba.gov.au/publications/smp/2011/feb/pdf/0211.pdf. It makes for good reading for those with interest in how the RBA perceive the global economic conditions playing out. They sight better International conditions and a domestic economy that remains cautious, but whose sentiment looks to be improving
 
Of note is the fact that the RBA have raised the GDP growth expectations for 2011 to 4.5% and see CPI (inflation) increasing to 3%. The interest rate markets have pushed yields higher on the back of this and currently have 34pts priced in by December , up from just the one 25pt hike earlier.
 

          Last 24 hours trade
  Current level Pre-RBA MPS Chge since RBA MPS   Low High
NZD/USD 0.7733 0.7734 0.0%   0.7619 0.7673
AUD/USD 1.0174 1.0145 0.3%   1.0083 1.0163
NZD/AUD 0.7599 0.7622 -0.3%   0.7599 0.7669
AUD/NZD 1.3159 1.3120 0.3%   1.3039 1.3159
NZD/GBP 0.4790 0.4790 0.0%   0.4744 0.4796
NZD/EUR 0.5673 0.5675 0.0%   0.5582 0.5679
NZD/JPY 63.13 63.15 0.0%   63.41 63.78
NZD/CAD 0.7653 0.7657 -0.1%   0.7615 0.7673
 

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