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Following are the key headlines from the  October RBA monetary policy statement  (via Reuters):

Reasonable to expect extended period of low rates.

RBA will ease further if needed.

Gentle turning point appears to have been reached.

Economy still has spare capacity.

Australian  dollar at lower levels of recent times.

Inflation pressures subdued and likely to be for some time.

Signs of turnaround in established housing markets, but new dwelling activity has weakened.

The Aussie is seen fading the knee-jerk spike to 0.6765, now trading near 0.6735 region, as the RBA leaves doors open for further easing.