Australia RBA Interest Rate Decision steadies at 3% in Mar 5
Mar 5, 2013
Japan opposition official: we cannot support Iwata as BoJ deputy
According to latest headlines out of Tokyo, a Japanese opposition ‘official’ has crossed the wires to say he cannot support Kikuo Iwata as a nominee for the BoJ deputy position as he has intentions to modify the BOJ law.
RBA held rates unchanged at 3% as widely expected. The accompanying statement failed to provide fresh clues either. The central bank said the Aussie remains overvalued - still expensive - , global markets remain susceptible to shocks - downside risks appear to have lessened over recent months - and that China growth has remained fairly robust; with regards to inflation, the RBA still retains dovish tone, saying "outlook for inflation gives scope to ease." However, it continues to show little urgency to cur further in the statement.