Tag Archives: RBA
RBA Statement on Monetary Policy – May 2014
The RBA’s neutral policy stance was reaffirmed in the May Statement on Monetary Policy (SMP). The RBA see the currentaccommodative monetary policy setting to continue “for some time yet”.
Daily FX Update
Global markets coming back from holidays selling the USD as the combination of expansionary PMI releases, an encouraging macroeconomic assessment from the OECD,
The Global Macro Pulse
AUDUSD popped up to 0.9310 following the RBA statement from about 0.9288, but has since fallen back just below 0.93.
UBS Morning Adviser
Bearish outlook intact Although the Australian dollar mostly failed to react to the Reserve Bank of Australia’s overnight policy statement,
RBA Keeps Cash Rate Unchanged; Guides To Stable Rates Again
The Reserve Bank of Australia left its cash rate unchanged on Tuesday as widely expected and once again said that the exchange rate remains high by historical standards even as it maintained its guidance to a period of stable rates.
RBA meets on Tuesday and should leave the cash rate at 2½%
The focus is increasingly on the Budget. But there are some monetarypolicy markers to negotiate first. The RBA meets on 6 May and thequarterly Statement on Monetary Policy (SMP) is released on 9 May.
The Week Ahead in FX
In the week ahead, market participants will be focusing on Thursday’s ECB monetary policy announcement. Rate reviews by BoE and the Reserve Bank of Australia will also be closely watched.
Would the RBA intervene to weaken the AUD?
On 8 April (Where is the RBA’s pressure point on the AUD?) we argued thata TWI around 72 or an AUD/USD rate of 0.9500 in the
The neutral cash rate – lower than in previous cycles
Changes in productivity, the terms of trade, savings behaviour, fiscal policy, credit growth, lending margins and theexchange rate impact on the neutral cash rate.
Weekly Report
Mid-term carry unwind Currently conditions are right for carry trades. Yet given the return profile of carry trades,
Altering our FX forecasts to reflect longer-duration weakness in the USD
We have decided to fundamentally change our USD view. We now donot expect the USD to significantly strengthen until the real Fed Fundsrate turns positive in early 2016 (chart 1).
Daily FX Wrap and Strategy
The NZD is broadly weaker this morning, havingmade gains only against the AUD overnight. TheNZD/USD is 0.5% lower at 0.8640.The USD is stronger amid softer risk appetite,