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18 Dec 2013
Flash: This is what you need to know about RBA Stevens speech today - Westpac
FXstreet.com (Bali) - RBA Governor Stevens appears before the House of Representatives' Standing Committee on Economics, from 22.30GMT, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"He will deliver a mostly backward-looking opening statement then face a lengthy session of questions from the politicians on the committee. Given how much we have heard from the RBA in recent weeks, we don’t expect much new in this appearance."
"Westpac Economics did not regard this event as cause to delay their revised outlook for the RBA cash rate, now seeing two more cuts in May and Aug 2014 rather than Feb and May.
"Current market pricing extends as far as -16bp by Aug 2014. At 10:30am Syd we see the Nov leading index from Westpac-MI, recently revamped to improve its timeliness."
Key Quotes
"He will deliver a mostly backward-looking opening statement then face a lengthy session of questions from the politicians on the committee. Given how much we have heard from the RBA in recent weeks, we don’t expect much new in this appearance."
"Westpac Economics did not regard this event as cause to delay their revised outlook for the RBA cash rate, now seeing two more cuts in May and Aug 2014 rather than Feb and May.
"Current market pricing extends as far as -16bp by Aug 2014. At 10:30am Syd we see the Nov leading index from Westpac-MI, recently revamped to improve its timeliness."