The Head of the RBA, Glenn Stevens has said Australia is in the midst of its first recession since 1991, but at the same time sees signs of confidence in long term outlook. It was the first time the Governor explicitily acknowledged a recession. He went on to say that he see inflation declining over the next few years.
The AUDUSD is unmoved as it still holds onto 70c. The speech didnt contain anything new, as the Minutes were released a few hours ago.
