The RBA lowered growth and inflation forecasts earlier today. It cut its annual underlying inflation forecast for Q2 2009 to 3.5% and sees headline CPI slowing to 1.75% by mid 2009.
The RBA also sees GDP growth of 0.5% in 2009, thats down from their previous forecast of 1.75%. GDP growth is expected to rise to 2.5% in 2010.
AUD/USD did drift off earlier on these comments down to 6485. Look for 6480 to hold short term. If you did buy a few there, Id be looking at selling out towards 6525 and play that range from a BUY the dip preference.
