RBA’s Kent:
- Haven’t ruled out FX intervention
- Falling oil prices positive for household incomes
- AUD too high relative to fundamentals
- Looking forward to a time when the US normalizes rates
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As you’d expect, AUD hit lower on the intervention comment
Overflow into the NZD also, but its not down nearly as much
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Kent’s earlier comments are here: Australia – RBA’s Kent: Reiterates that the AUD is above most estimates of fundamental value
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More:
- Macroprudential steps being considered on home lending are modest ones
- Labour market is subdued, but signs things are improving
- Jobless rate is broadly consistent with below trend growth
- China still a positive story for Australia
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Q&A concluded now