The Reserve Bank of Australian Released their September Monetary Meeting Minutes. The details of the release are as follows:
- The Australian economy is stronger than earlier forecast.
- It will need to raise interest rates in due course.
- The Slowing of private wage growth will contain inflation.
- Export volumes holding up, business spending rising.
- Australian equity raisings remain strong.
- Balancing risks to inflation versus need to support recover.
- Australian business credit still “very weak”.
- Australian bank funding costs have risen.
Following this release the AUD sold of slightly across the board as it reached new session lows against the USD of .8590.
