RBA’s Hauser says Bank must remain strong in fight against inflation

Reserve Bank of Australia Deputy Governor Andrew Hauser not adding a lot what the minutes said earlier, no sign of an imminent rate cut from the RBA:

• when inflation stops being high and sticky the Bank will act
• US inflation nearing target, Australia’s lagging
• expects core will hit target, but inflation is persistent
• lowering inflation is a significant task and we are not completed yet

AUD/USD is falling on the disappointing NDRC press conference in China. Markets had high hopes of more stimulus announcements. We haven’t had any of note.

—

—

Earlier from Australia:

• RBA minutes: Board discussed scenarios for both lowering and raising interest rates

—

This article was written by Eamonn Sheridan at www.forexlive.com.