There’s plenty from the RBA this week.
- On Tuesday (November 19) we get the minutes of November 2013 Monetary Policy Meeting (release time is 0030GMT). The main concerns the RBA have expressed recently have been AUD strength and the slow ‘transition’ in the economy from mining investment to other sectors. They have not expressed any particular concern with the rise in house prices beyond broadly acknowledging the rise. Attention will turn to dissecting the minutes to ascertain if these themes are still in place. I don’t expect any strong hints of action to bring down the exchange rate, the Reserve seems content to wait for a US ‘taper’ to provide a downside impetus for the AUD (which raises a nice question, perhaps for another day, though, what if the Fed throws a taper out there and the AUD doesn’t fall …?).
- Also coming up this week are two speeches, the first from Guy Debelle (Assistant Governor, Financial Markets) on Wednesday, who will be a panel discussant at the Centre for International Finance and Regulation (CIFR) Forum on Perspectives on Financial Markets – due at 0030GMT on 20 November. the second is from Governor Glenn Stevens on 21 November 2013 at 0905 GMT to the Australian Business Economists (ABE) Annual Dinner on “The Australian Dollar: Thirty Years of Floating”
