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.
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