Australian dollar surges on better than expected RBA forecasts
February 6, 2015 4:36 am
The Australian dollar strengthened following the Reserve Bank of Australia reduced its economic forecasts, better than analysts’ expectation.
Australia’s central bank cut its economic growth projections by a quarter of a percentage point, saying it would still be below the direction pace for longer than predicted due to sluggish recuperation in non-mining business investment.
On Friday, the Aussie traded at 78.33 US cents from Thursday’s 77.72 US cents. The currency leaped more than half a US cents after the RBA released its quarterly statement on monetary policy, hitting an intraday high of 78.60 US cents.
The central bank also snipped its headline inflation predictions.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar strengthened following the Reserve Bank of Australia reduced its economic forecasts, better than analysts’ expectation.
Australia’s central bank cut its economic growth projections by a quarter of a percentage point, saying it would still be below the direction pace for longer than predicted due to sluggish recuperation in non-mining business investment.
On Friday, the Aussie traded at 78.33 US cents from Thursday’s 77.72 US cents. The currency leaped more than half a US cents after the RBA released its quarterly statement on monetary policy, hitting an intraday high of 78.60 US cents.
The central bank also snipped its headline inflation predictions.
The material has been provided by InstaForex Company – www.instaforex.com
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