IMF: Aggressive policy actions to limit Australian GDP decline to 0.5%

GDP will only decline 0.5% this year in Australia, the IMF says. They credit aggressive actions by the government and RBA.The Aussie dollar is broadly in-line with fundamentals, the IMF says.

Despite the RBA signaling that it’s next rate move will be a hike earlier today, AUD/USD is struggling amid a broad USD rebound after the US employment report. It trades now at 0.8388.