RBA Gov Stevens’ offers no surprises – TDS

Research Team at TDS, notes that there were no surprises and frankly little to take away from RBA Gov Stevens’ Q& A session today.

Key Quotes

“Like RBA Board Member John Edwards stated in a Dow Jones interview on Friday, the Governor placed his support behind the Bank’s medium term 2-3% inflation target. Otherwise he gave little away. He said the current picture is of slowing growth and lower unemployment and that inflation is probably a bit too low. There were no concerns on China, but he did acknowledge that Chinese authorities are trying to “...manage a really profound, epochal transition.” On the AUD he said it is doing “...what it’s supposed to do.”