RBA Minutes: FXWW

-RBA Minutes: Board Judged Steady Policy Consistent With Inflation, Growth Goals
-“Considerable Uncertainty” On How Quickly Wages Might Pick Up, Add To Inflation
-Pass-Through To Inflation Could Be Delayed By Many Factors Including Retail Competition
-RBA Minutes: Competitive Pressures On Retail Margins And Costs Expected To Last For Some While
-Board Discussed Global Trend Of Wages Growth Lagging Unemployment
-Any Further Rise In A$ Would Slow Expected Pick-Up In Inflation, Economy
-RBA Minutes: Local Labour Market Had Been Surprisingly Strong, Above-Average Jobs Growth Likely To Continue
-Rising Participation Meant Jobless Rate To Fall Only Slightly To 5.25% By End 2019
-RBA Minutes: Saw More Upside Risks To Non-Mining Business Investment, Infrastructure Spending A Boost
-GDP Growth Of Around 3% Over Next Few Years, Subdued Productivity
-RBA Minutes: Noted Importance Of Data And “Evidence-Based Policymaking” In Lifting Productivity
-Housing Market Had Eased In All Major Cities, Still Relatively Strong In Melbourne
Peter FellNov 21mni-news.com
Australia’s dollar is set to fall to the weakest since the aftermath of the global financial crisis in 2009 as it loses its standing as a high-yielding currency, according to Morgan Stanley.

The Aussie will probably drop to US65¢ in 2019 as the nation’s benchmark rate will eventually go below the Federal Reserve’s, said Hans Redeker, the London-based chief global currency strategist at Morgan Stanley, the most bearish forecaster of the currency.

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