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2 Dec 2014
RBA leaves rates on hold – SG
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Research at Societe Generale, notes that RBA kept rates on hold, while still bemoaning the AUD’s strength.
Key Quotes
“As inflation remains low, the desire for a weaker currency grows. The RBA (and RBI) left rates on hold overnight, the RBA as usual bemoaning the AUD’s strength. The RBA would like a weaker currency much more than they would like to cut interest rates in 2015, though we see more and more economics teams forecast a move down. AUD/USD got a brief lift from the meeting, which is being eroded as I write. 0.80 is still a target.”
Key Quotes
“As inflation remains low, the desire for a weaker currency grows. The RBA (and RBI) left rates on hold overnight, the RBA as usual bemoaning the AUD’s strength. The RBA would like a weaker currency much more than they would like to cut interest rates in 2015, though we see more and more economics teams forecast a move down. AUD/USD got a brief lift from the meeting, which is being eroded as I write. 0.80 is still a target.”