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Lower for longer in Oz

FXStreet (Edinburgh) - Morten Helt, Senior Analyst at Danske Bank, assessed the recent release of the RBA minutes.

Key Quotes

“In the minutes from its August 5 meeting, released this morning, Reserve Bank of Australia, RBA, reiterated that interest rates are set to remain on hold at a record low level of 2.5%”.

“Although the RBA acknowledged a significant uncertainty around its growth forecast, the minutes were a bit hawkish relative to market’s expectations, which was pricing in some chance of a rate cut within the coming 12 months and the Australian dollar has strengthened against all G10 currencies overnight”.

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