21 Nov 2014
Big calls from RBA’s Heath - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank noted that the RBA’s Heath took the spot light and made some big calls when speaking at a mining industry conference this morning.
Key Quotes:
“This morning the RBA’s Heath – the head of economic analysis – gave a speech stating that it will be harder for China to maintain present growth rates over time; that the drop in mining investment is a big drag on investment and GDP (as iron ore prices continue to head towards GFC lows); and that AUD remains above fundamental value”.
“Big calls like this are clearly why he’s paid the big bucks; but we are still waiting to see what the RBA will actually do about it other than hope for their own summer solstice”.
Key Quotes:
“This morning the RBA’s Heath – the head of economic analysis – gave a speech stating that it will be harder for China to maintain present growth rates over time; that the drop in mining investment is a big drag on investment and GDP (as iron ore prices continue to head towards GFC lows); and that AUD remains above fundamental value”.
“Big calls like this are clearly why he’s paid the big bucks; but we are still waiting to see what the RBA will actually do about it other than hope for their own summer solstice”.