RBA Lowe’s Speech: No hint of rate cuts – TDS

By FXStreet FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, notes that the recent speech of RBA Deputy Governor Philip Lowe at the CEDA conference in Melbourne does not feed market with any hint that the RBA would entertain a rushed rate cut.

Key Quotes

“He continued to deliver the RBA’s message that it is more or less comfortable with the levels of the AUD, again refraining from jawboning the currency lower, he downplayed concerns over China and the soft Q2 GDP read was brushed aside.”

“Once again, Lowe reinforced the Bank’s view that monetary policy does have its limits, suggesting the RBA is reluctant to lower rates anytime soon.”

“He did state that the missing ingredient in the Australian economy is investment that needed innovation and productivity, not just a low AUD and low rates.”
For more information, read our latest forex news. …read more

Source:: FX Street