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17 Dec 2013
Flash: Same tune from RBA - TDS
FXstreet.com (London) - Strategists at TD Securities noted that the RBA December Board meeting minutes sang the same tune.
Key Quotes:
“…(1) monetary policy gaining traction; (2) the AUD remains ‘uncomfortably high’ (was at $US0.91) and (3) the Board has not ’closed off the possibility’ of further reducing the cash rate”.
“Tomorrow’s RBA testimony brings fresh news”.
“The 2013/14 fiscal deficit has been estimated to blow out to -$A47b, or –3.0% of GDP, and net debt projected to peak at 15.7% of GDP in 2016/17. No surplus even penciled in for 2016/17, now a deficit of -1% of GDP”.
Key Quotes:
“…(1) monetary policy gaining traction; (2) the AUD remains ‘uncomfortably high’ (was at $US0.91) and (3) the Board has not ’closed off the possibility’ of further reducing the cash rate”.
“Tomorrow’s RBA testimony brings fresh news”.
“The 2013/14 fiscal deficit has been estimated to blow out to -$A47b, or –3.0% of GDP, and net debt projected to peak at 15.7% of GDP in 2016/17. No surplus even penciled in for 2016/17, now a deficit of -1% of GDP”.