- Reserve Bank of Australia says forecast for Australian economy largely unchanged
- Says judged steady policy consistent with growth, inflation targets
- Expects economy to grow at an annual 3 pct rate over the next few years
- Says higher AUD is restraining price pressures
- Says increased infrastructure investment supporting the economy
- Says rising AUD would slow economy
- Slow growth in wages, high household debt likely to constrain spending
- Signs conditions are easing in Sydney house prices
- Unemployment expected to decline gradually
- Global economy continuing to improve
- Inflation remains low, likely to stay so for some time
- Labor market has continued to strengthen
- Australia's terms of trade expected to decline over the period ahead
- Forecast remains for inflation to pick up gradually
The outlook for AUD remains the same, and the bank did not mention a recent increase in interest rates or lasting improvement in the economy. AUD does not react strongly to the news, our expectations remain positive, and any Australian adjustment will give us good levels to add new long positions.
Jr Trader Petar Milanov
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