Excerpt from: Forex News
|
 |
| June 01, 2010 | | Interest rates expected to remain steady | The Australian dollar is turning lower in currency trading on the FX market today as interest rates are expected to remain steady for some time.
Today, RBA Governor Glenn Stevens pointed out that things have slowed dramatically in the Australian economy recently, and the need for higher rates has been put on hold. GFT's Boris Schlossberg reports in FX360 on Aussie rates:
Although RBA’s communiqué leaves open the possibility for further
tightening as the year progresses, especially if inflationary pressures
rise, the general tone of the message suggests that the monetary
authorities in Sydney will remain stationary for the foreseeable future.
With China reining in its own growth, and with the troubles in Europe, Australia clearly expects that a period of slowing is inevitable, even though economies Down Under have been less affected by recession than many other developed economies.
| Topic Tags: aussie forex trading, Australian dollar, Boris Schlossberg, currency trading, forex trading, interest rates | |
|
|
