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3 Jul 2014
RBA Stevens successfully talking down the AUD
FXStreet (Bali) - Glenn Stevens, Governor of the Reserve Bank of Australia (RBA), speaking to the Australian Conference of Economists (ACE) and the Econometric Society Australasian Meeting (ESAM), in Tazmania, making some very dovish comments that are weighing on the AUD.
Key headlines via Reuters
Stevens says rebalancing signs encouraging but some way to go yet
Stevens says monetary policy very accommodative, but still has ammunition on rates
Stevens says a$ overvalued by most measures, and by more than a few cents
Stevens says investors under-estimating risk of sharp fall in a$ at some point
Stevens says not seeking to actively "jawbone" the currency lower
Stevens: has not contemplated tightening, stability language has worked on market expectations
Stevens: could drop reference to stable rates long before giving any thought to tightening
Stevens says federal budget unlikely to change near term economic outlook
Stevens says longer term tightening of fiscal policy seems sensible
Stevens questions whether budget impact on household confidence will persist
Stevens says q1 gdp probably overstated pace of growth, outlook little below trend
Stevens: housing market appears to be calming down, slower price growth favoured
Stevens says conditions in housing market do not warrant higher rates
Key headlines via Reuters
Stevens says rebalancing signs encouraging but some way to go yet
Stevens says monetary policy very accommodative, but still has ammunition on rates
Stevens says a$ overvalued by most measures, and by more than a few cents
Stevens says investors under-estimating risk of sharp fall in a$ at some point
Stevens says not seeking to actively "jawbone" the currency lower
Stevens: has not contemplated tightening, stability language has worked on market expectations
Stevens: could drop reference to stable rates long before giving any thought to tightening
Stevens says federal budget unlikely to change near term economic outlook
Stevens says longer term tightening of fiscal policy seems sensible
Stevens questions whether budget impact on household confidence will persist
Stevens says q1 gdp probably overstated pace of growth, outlook little below trend
Stevens: housing market appears to be calming down, slower price growth favoured
Stevens says conditions in housing market do not warrant higher rates