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  • RBA likely to leave rates on hold despite strong housing data – Rabobank

    From fxstreet.com

    Jane Foley, senior FX strategist at Rabobank points out that according to CoreLogic data, house prices in Sydney rose by 2.7% m/m in November, marking its largest monthly rise since 1988. Key Quotes “Melbourne wasn’t far behind, recording growth of 2.2% m/m. Nationwide, Australian house prices jumped by 1.7% m/m, the fifth consecutive monthly increase, supported by the aggressive pace of RBA rate cuts this year. The strong performance of house prices is counter to the more gloomy tone of other Australian economic data releases. Together these messages highlight the delicate path that RBA policy makers must ... (full story)

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    U.S. vows 100% tariffs on $2.4 billion of French products over digital services tax

    From reuters.com|Dec 2, 2019|2 comments

    The U.S. government on Monday said it could slap additional duties of up to 100% on $2.4 billion in French imports of Champagne, handbags, cheese and other products, after ...

    China's Yuan opens trade at 7.0420 per USD vs last close at 7.0409

    From @FirstSquawk|Dec 2, 2019

    tweet at 8:31pm: CHINA'S YUAN OPENS TRADE AT 7.0420 PER DOLLAR VS LAST CLOSE AT 7.0409

    M4.7 earthquake strikes 57 km N of Tokyo

    From @LastQuake|Dec 2, 2019

    tweet at 8:27pm: M4.7 #earthquake (#地震 strikes 57 km N of #Tokyo (#Japan) 9 min ago. Effects reported by eyewitnesses: https://t.co/krouOP0PMF

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    Return of the tariffs

    From think.ing.com|Dec 2, 2019

    It took about 5 seconds this morning, maybe ten, to register that today's note was basically going to write itself. The home page of my go-to newspaper, the Financial Times, runs ...

    Australian Dollar Could Fall Sharply if RBA QE Becomes 'Live'

    From dailyfx.com|Dec 2, 2019

    The Australian Dollar is like all other assets dominated by US-China trade deal headlines, but this week a domestic issue likely to loom larger crept in even as those headlines ...

    Statement by Philip Lowe, Governor: Monetary Policy Decision

    From rba.gov.au|Dec 2, 2019|9 comments

    At its meeting today, the Board decided to leave the cash rate unchanged at 0.75 per cent. The outlook for the global economy remains reasonable. While the risks are still tilted to the downside, some of these risks have lessened recently. The US–China trade and technology disputes continue to affect international trade flows and investment as businesses scale back spending plans because of the uncertainty. At the same time, in most advanced economies unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken steps to support the economy while continuing to address risks in the financial system. Interest rates are very low around the world and a number of central banks have eased monetary policy over recent months in response to the downside risks and subdued inflation. Expectations of further monetary easing have generally been scaled back. Financial market sentiment has continued to improve and long-term government bond yields are around record lows in many countries, including Australia. Borrowing rates for both businesses and households are at historically low levels. The Australian dollar is at the lower end of its range over recent times. After a soft patch in the second half of last year, the Australian economy appears to have reached a gentle turning point. The central scenario is for growth to pick up gradually to around 3 per cent in 2021. The low l tweet at 10:31pm: RBA: Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments, including in the labour market. https://t.co/LNb4TuT5Ci tweet at 10:34pm: RBA: SAYS NEW HOME CONSTRUCTION HAS WEAKENED -- SAYS INFLATION TO PICK UP ONLY GRADUALLY --GLOBAL EXPECTATIONS OF FURTHER MONETARY EASING HAVE GENERALLY BEEN SCALED BACK tweet at 10:35pm: RBA: LOW RATES, TAX CUTS, INFRASTRUCTURE SPENDING, UPSWING IN HOUSING PRICES AND A BRIGHTER RESOURCE SECTOR OUTLOOK SHOULD ALL SUPPORT GROWTH. tweet at 10:34pm: #RBA : - Reasonable to expect rates to remain low for an extended period - Prepared to ease monetary policy further if needed - Inflation to be close to 2% in 2020 & 2021 - Rates have put downward pressure on the exchange rate #AUD

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  • Posted: Dec 2, 2019 9:07pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 0  /  Views: 1,430
  • Linked events:
    AUD RBA Rate Statement
    AUD Cash Rate
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    Statement by Philip Lowe, Governor: Monetary Policy Decision
    From rba.gov.au|Dec 2, 2019|9 comments
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