News Headline Summary

RBA March Policy Meeting Minutes

- Economy responding to low rates, repeats scope to cut.
- CPI forecast assumes productivity growth, tame wages.
- Reiterates it still has scope to cut rates if needed.
- Impact of interest rate cuts still had further appropriate.
- Saw global conditions more positive, risks more balanced.
- Subdued non-mining investment likely to continue.
- Saw rising asset prices, moderate growth in debt levels.
- Mining investment appears to be approaching its peak.
- Sees GDP growth little below trend this year, then pick up.
- Notes AUD remained high after rate cuts.

Reaction details (09:35)

- AUD/USD immediately spiked lower by 12 pips from 1.0397 to 1.0385, trades 1.0393 (-7 pips) last.
- In 5 minutes, the initial spiked lower has been fully pared.

Analysis details (09:35)

- The Reserve Bank of Australia left key rate unchanged at 3% in their March meeting.

19 Mar 2013 - 09:30 - Fixed Income Data - Source: Newswires

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