AUD: Focus will increase this week on RBA meeting
I got a little bit carried away in my previous post, (getting excited by the Melbourne Cup!), and of course the RBA meeting doesn’t happen for another 9 days but no less a person than the head of the ANZ bank was quoted in The Australian newspaper echoing my views exactly. Forget about China and the CPI, comments from board members Ridout and Broadbent show that the RBA is seriously considering measures to combat the high AUD and Mike Smith from the ANZ thinks this is not before time. Important industries like tourism and education are suffering massively under the high AUD and with other regions trying to drive their currencies lower, Australia should be doing the same.