News Headline Summary

RBA August minutes saw need to signal further rate cut possible but not imminent


- Strong growth in resources exports expected.
- Should not close off possibility of further easing
- Neither did members want to single an imminent intention to cut rates further.
- AUD still high by historical standards, possible could fall further to help re-balancing.
- Inflation to remain within target range even with impact of lower AUD.
- Chinese economy unlikely to pick up in the coming quarter.
- Housing market improving, pick up in home building moderate rather than strong.

Reaction details (02:37)

- AUD/USD immediately moved higher from 0.9089 to 0.9118.
- No immediate reaction in the ASX200.

20 Aug 2013 - 02:19 - Forex - Source: Newswires

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