RBA Lowe throws cold water on Stevens remarks

FXstreet.com (Barcelona) - Following yesterday's off the cuff comments by RBA Governor Stevens about rates, in which he said ""we deliberated for a long time to leave the cash rate unchanged", RBA deputy governor Lowe, somehow just denied that.

RBA deputy governor Lowe, who is making a speech titled Some Tensions in Financial Regulation, has just crossed the wires to say that the Governor's remarks were meant to be light hearted and that were misinterpreted by the market. Additionally, Lowe said the board did deliberate for very long time, as always does.

Jul 4, 2013

Flash: Australian construction data to please RBA - NAB

Building approvals in Australia came soft in May, due to a 9.5% fall in private apartments, however private housing gained for fifth consecutive month, this last a good sign for future dwelling investment, says Spiros Papadopoulos, Senior Economist at NAB, adding that "Given the RBA’s ongoing confidence that the rate cuts over the past 18 months are slowly working their way through the economy, the continuing gains in private housing would be pleasing for them."

AUD/USD jumps on RBA Lowe's comments

The AUD/USD foreign exchange rate is last trading at 0.9117 off recent session highs at 0.9133 from session lows at 0.9073 spiking suddenly on the back of RBA deputy governor Lowe's comments.