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1.Market Observations, 8.Was Sticky

2 Aug 2019 (AFR) – The US Fed gives the RBA cover

(2 August 2019, AFR, p1, Vesna Poljak and Luke Housego)

Rates... (Bloomberg, AFR)

Bonds and currency rates… (Bloomberg, AFR)

‘The Reserve Bank has escaped the threat of a US Federal Reserve hell bent on cutting rates and the risk of Australian dollar appreciation that comes with it, after Fed chairman Jerome Powell declared his rate cut was not the start of a pronounced cycle. Mr Powell confused global markets by lowering the Fed funds rate to a range of 2 to 2.25 per cent early on Thursday AEST, but emphasised it was “a mid-cycle adjustment to policy” and “not the beginning of a long series of rate cuts”. ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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