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RBA expected to hold - Westpac

FXStreet (Guatemala) - Analysts at Westpac explained that the RBA is expected to leave rates unchanged at its Nov meeting.

"However, there will be considerably more for the Board to deliberate on this month, particularly following the increase in banks' variable mortgage rates and a surprise drop in inflation.

On balance, we do not expect developments to prompt the sort of downgrade in growth expectations that would draw a policy response, particularly given recent improvements in confidence and employment.

The Nov Statement on Monetary Policy (SoMP) released the following Friday will present a detailed update of the Bank's economic assessment and a revised set of forecasts. The RBA's 2016 growth view – currently at 3.00% – remains the critical factor for policy."

Exchange rate about where the RBA wants it - Socgen

Klaus Baader, analyst at Societe Generale explained that over the three months since the August forecasting round, the exchange rate has continued to ease, albeit moderately, owing to a small rebound in October which partly reversed the sizable drop of September.
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EUR/GBP falls to fresh 2-month lows as GBP rises across the board

EUR/GBP was moving with a bullish bias but turned to the downside and accelerated below 0.7165. It broke under 0.7140 hitting a fresh 2-month low. It bottomed at 0.7131 and it was trading at 0.7138/40, down 0.40% for the day.
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