RBA watchers spend their time listening to every word uttered by Stevens, Battelino, Lowe and Debelle. I really appreciate the fact that they do so as it means that I don’t have to. The collective wisdom of these watchers would seem to be telling us that there is absolutely no chance of any change in interest rates today and in fact the chances of any rate hikes this year have greatly receded.
With the ECB set to raise rates in Europe later this week, this may have some impact on the EUR/AUD as many big investment funds will trade purely on the basis of interest rate prognoses.
