The most important of Lowe's speach, AUD sinks

Here are the highlights of the statement of the Reserve Bank of Australia Chairman:

• The Bank is considering reducing interest rates at the June meeting
• Low interest rates should support the labor market and raise inflation
• Unemployment has to fall below 5%
• The economy can keep unemployment below 5% without affecting inflation
• We expect the labor market to improve
• Our forecast for the labor market and growth would have been weaker if we had not introduced the interest rate cut as a plan
• We will implement structural reforms to drive growth
• We will look for tax cuts to raise household incomes
• Wage growth will slow down in line with inflation
• The global situation looks a little brighter, growth is expected to grow at the end of the year
• A failure of trade negotiations will strengthen the negative effects on the world economy

Dovish position confirmed. If that happens, Australia will be another country that has cut its interest rate. The Australian posted the news in a relatively "expected" movement, plunging 27 pips in the interest confirmation.

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