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Australian Monetary Policy Meeting Minutes

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.