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Big calls from RBA’s Heath - Rabobank

FXStreet (Guatemala) - Analysts at Rabobank noted that the RBA’s Heath took the spot light and made some big calls when speaking at a mining industry conference this morning.

Key Quotes:

“This morning the RBA’s Heath – the head of economic analysis – gave a speech stating that it will be harder for China to maintain present growth rates over time; that the drop in mining investment is a big drag on investment and GDP (as iron ore prices continue to head towards GFC lows); and that AUD remains above fundamental value”.

“Big calls like this are clearly why he’s paid the big bucks; but we are still waiting to see what the RBA will actually do about it other than hope for their own summer solstice”.

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