FXstreet.com (Barcelona) - The Statement on Monetary Policy by the RBA is out and it looks like the relative hawkish tone persists. RBA predicts 2012 average growth of 3.75% vs 3% forecast in May. RBA sees tentative signs housing market is starting to improve. The central bank notes the higher currency may hurt growth more than in the past. High A$ may be more contractionary than history suggests, the RBA said. RBA preparing for AUD stealth intervention? They continued with a worrisome line: "Important risks revolve around exchange rate developments." RBA also highlighted that inflation is near target, near-trend growth in July. Australia's RBA added that interest-rate settings are appropriate.
RBA monetary policy statement - Growth upgraded; High AUD hurts the economy
Fri, Aug 10 2012, 01:39 GMT | FXstreet.com
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
