15 Apr 2014
RBA minutes should have limited impact - Westpac
FXStreet (Bali) - The minutes from the RBA Board’s April meeting should have limited impact given how firmly on hold the bank is, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"The 1 April retained the increasingly familiar phrase that “the most prudent course is likely to be a period of stability in interest rates.” There was a little more concern over the rise in AUD, enough to impact the growth outlook somewhat: “The decline in the exchange rate from its highs a year ago will assist in achieving balanced growth in the economy, but less so than previously as a result of the rise over the past few months.” AUD also remains “high by historical standards”, a statement of fact."
Key Quotes
"The 1 April retained the increasingly familiar phrase that “the most prudent course is likely to be a period of stability in interest rates.” There was a little more concern over the rise in AUD, enough to impact the growth outlook somewhat: “The decline in the exchange rate from its highs a year ago will assist in achieving balanced growth in the economy, but less so than previously as a result of the rise over the past few months.” AUD also remains “high by historical standards”, a statement of fact."