RBA Deputy Gov. Debelle does not make comments on monetary policy

There will be Q&A after his speech

The speech text from RBA Deputy Gov. Debelle is on the RBA's website. The prepared text seems to not discuss monetary policy or the economy but instead focuses on:

• Conditions in the foreign exchange markets
• Operation of forex markets
• Review of FX global Code, and FX settlement risk

In his conclusion the stated:

To conclude, the GFXC is aiming to complete the review of the FX Global Code by mid next year. Reflecting the feedback from market participants that it broadly remains fit for purpose, the changes to the Code will not be significant. Where appropriate they reflect the ongoing evolution of the FX market. Besides that, the GFXC continues to discuss the functioning of the FX market, including around benchmarks, with a particular focus on FX settlement risk.

Ho-hum.

There still might be some comments in the question-and-answer