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Join Date: Oct 2011
"RBA lowered the benchmark interest rate"(2011-11-01)
The Reserve bank of Australia lowered its benchmark interest rate from 4.75% to 4.50%. The majority of the economists now agree that the RBA is unlikely to start the easing cycle.
Analysts at HSBC claim that as long as Aussie remains strong, the central bank will be less concerned about inflation that will prevent it from decreasing the borrowing costs. In addition RBAís statement doesnít contain hints at further rate cuts. According to the specialists, RBAís approach has switched to neutral.
Strategists at ANZ arenít sure about the central bankís neutral position but say that they donít expect another easing move in December naming February as the potential time when the next cut arrives. Analysts at St. George Bank look forward to only one more rate reduction in March.
Australian dollar fell versus its US counterpart from todayís maximum at $1.0566 to the levels below $1.0450.
Chart. Daily AUD/USD
Comment here http://www.fbs.com/analytics/news_markets/view/8974
Sincerely yours, U Malik www.SahibExchange.com