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The AUD / USD is below 0.6970 to sit just a little higher than that of the first part of the day.
RBB Governor Lowe spoke.
Lowe was dovish, he would never be anything but, after all, the bank has only recently made it that way. He has not committed to further interest rate cuts, but they will not increase anytime soon either:
- If further monetary easing is needed or not, it is reasonable to expect a prolonged period of low interest rates.
- According to current forecasts, it will take some time before inflation returns to the target range. The Commission is firmly committed to achieving this goal and maintaining an average inflation rate of between 2% and 3%. It is highly unlikely that we would consider higher interest rates until we are convinced that inflation will return to around half of the target range.
ForexLive
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