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8 Feb 2013
Forex Flash: RBA monetary policy statement eyed - Westpac
The RBA monetary policy statement, an extended version from Tuesday's RBA rte decision, will be published in around 90 minutes at 00.30 GMT.
As Sean Callow, currency strategist at Westpac, notes: "The starting point expectation is of course that the lengthy report will be an expanded version of Tue’s statement plus the usual special features."
"Given that Tue’s statement was seen as more dovish than expected, perhaps the greater risk for AUD is that the longer statement doesn’t sound quite so dovish. Changes to GDP and inflation forecasts will be noted too. The RBA was quite vague on inflation in Nov and could remain so but at the very least it should cut its 2012 GDP estimate from 3.6% to 3%" he adds.
As Sean Callow, currency strategist at Westpac, notes: "The starting point expectation is of course that the lengthy report will be an expanded version of Tue’s statement plus the usual special features."
"Given that Tue’s statement was seen as more dovish than expected, perhaps the greater risk for AUD is that the longer statement doesn’t sound quite so dovish. Changes to GDP and inflation forecasts will be noted too. The RBA was quite vague on inflation in Nov and could remain so but at the very least it should cut its 2012 GDP estimate from 3.6% to 3%" he adds.