4 Feb 2014
Flash: AUD soars – TD Securities
FXStreet (Guatemala) - Strategists at TD Securities noted that the RBA stole the headlines during the Asian session following its decision to keep rates on hold at 2.5%.
Key Quotes:
“The decision to remain on hold was not the surprise, it was the rewritten statement removing any suggestion that the AUD was ‘high’ or ‘uncomfortably high’, and there wasn’t even a hint at a scope for further easing”.
“The conclusion of “likely to be a period of stability in interest rates” was fairly neutral forward guidance. The quarterly Statement on Monetary Policy on Friday will spell out fresh growth and inflation forecasts from the Bank”.
Key Quotes:
“The decision to remain on hold was not the surprise, it was the rewritten statement removing any suggestion that the AUD was ‘high’ or ‘uncomfortably high’, and there wasn’t even a hint at a scope for further easing”.
“The conclusion of “likely to be a period of stability in interest rates” was fairly neutral forward guidance. The quarterly Statement on Monetary Policy on Friday will spell out fresh growth and inflation forecasts from the Bank”.