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FXstreet.com (Barcelona) - TD Securities analysts maintain the view that the RBA is more likely to extend its pause next month before cutting again in February despite today's quarterly Statement on Monetary Policy that delivered a modest ¼%pt downgrade to its 2013 growth forecast to 2¾%, citing lower mining investment than previously expected. "Nonetheless, this merely formalizes the October observation that the mining investment boom is lower than expected rather than a signal for fresh cuts", wrote Alvin Pontoh. However, the consensus forecast became more narrow (13-12), favoring the February cut.
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