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Aussie pressured by RBA Meeting Minutes

Tuesday, Sep 19 2017
Aussie pressured by RBA Meeting Minutes

After the ECB and then the BOC complained about the exchange rate, the RBA followed suit. It seems that everybody except the BOE wants a lower currency. For Australia’s central bank, it is certainly not the first time. While the recent meeting minutes do not shed any surprising new light, they serve to keep the pressure on the Australian dollar.

The minutes from the September meeting say that the stronger exchange rate weighs on domestic growth an inflation. Any additional increase in the value of the currency could result in a slower pick-up in inflation and growth. This is not new and they also acknowledge that AUD/USD is driven higher by the weakness of the greenback as well. Nevertheless, this has its effect on the pair.

More in this category: « Sterling slides as BoE's Carney signals limited, gradual rate hikes Australian House Prices increased more than expected »

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