Response to RBA Debelle's speech - RBA is always too optimistic. (Also, AUD targets).
Reserve Bank of Australia Deputy Governor Debellse spoke yesterday:
- AUD ... is worst-placed for a US-China decoupling, the RBA's Debelle just gave a speech in which he said a lower AUD would be beneficial to support the economy, and that higher public debt levels (which the RBA will support) are not a problem.
- The RBA's projections, always too optimistic, are also that it will be three years before rates need to rise again.
Rabobank twist the knife:
- Ask the BOJ how long it has taken them
And, a little more:
- We see scope for AUD/USD to pullback towards 0.71 on a three-month view and to fall to 0.68 in six months