RBA Board April Meeting Minutes
Written April 20, 2009 at 9:46 PM EST by Alex Chernomordin
The following are the highlights from the RBA’s April Meeting Minutes:
- RBA saw scope from modest rate cute in April as economy slows.
- Expects recovery in Australia demand by year-end.
- Australian banks ahead of schedule on bond funding.
- Inflation rate will decline over the medium term.
- Central Bank says jobless rate is expected to rise.
- Rate cuts supporting customer spending.
- Australian economy will shrink in 2009.
- Australian wage growth will moderate this year.
- GDP is now expected to contract in 2009 and return to growth in 2010.
This report helped the AUD regain some of its momentum as it trades off it lows, pushed lower by the bid on Yen and the USD during NY trading.
Categories: Forex Trading | Tags: AUD
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