Analysts trimmed their long term forecast for the Australian dollar, a Reuters p...
SYDNEY - Analysts trimmed their long term forecast for the Australian dollar, a Reuters poll showed, as markets priced in more interest rate cuts by the country’s central bank, including unconventional monetary easing measures.
Financial futures are now pricing in an 80% chance of a fourth cut to 0.5% by Christmas after the RBA said it was prepared to do more to reinvigorate a slowing domestic economy. Despite a rebound in home prices in recent months, the overall property sector is yet to enter a sure-footed recovery phase, while inflation remains tepid and unemployment is ticking higher.
“Without a fiscal lift, what we described back in March as a ‘What if’, QE downunder, is looking increasingly likely.”
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