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RBA Stevens reasonably upbeat, but certainly non-committal

Written by Sam Coxhead on August 26th, 2011.      0 comments

11:57 AM (NZT) Reserve Bank of Australia Governor Glen Stevens just address the House Standing Committee on Economics in Melbourne. His assesment of the conomy makes for further good reading. He again reiterates that much of Australia's fututre cash rate moves wilkl be driven by the economic fortunes of China. Whilst his asessment was reasonably upbeat , it appears that future movements in the cash rate are reliant on the coming economic data. The interest rate market in Australia seems to be a little ahead of this with around 100pts of easings priced before year end.

The interesting times continue. The AUD has seen some slight appreciation since Stevens comments hit the headlines. The full text of the speech can be read here http://www.rba.gov.au/speeches/2011/sp-gov-260811.html.

    Last 24 hours trade
  Current level Low High
NZD/USD 0.8303 0.8250 0.8330
AUD/USD 1.0465 1.0414 1.0513
NZD/AUD 0.7935 0.7895 0.7953
AUD/NZD 1.2602 1.2574 1.2666
NZD/GBP 0.5096 0.5045 0.5101
NZD/EUR 0.5772 0.5727 0.5781
NZD/YEN 64.27 63.45 64.51
NZD/CAD 0.8203 0.8140 0.8210

 

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