Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle, speaking at an event in Adelaide, quashed talk of domestic interest rate hikes which had gathered momentum after the Bank of Canada increased its policy rate to 0.75 percent last week. "Just as the policy rate in Australia did not need to decline to the very low levels seen in other parts of the world, the fact that other central banks increase their policy rates does not automatically mean that the policy rate here needs to increase," he said.
There will be major no data releases both from Australia and USA on Monday so we can expect a bit steadier session.
