FXStreet (Edinburgh) – According to Senior Analyst at Danske Bank, the easing cycle in the Australian economy could be over.
Key Quotes
“The Reserve Bank of Australia (RBA) indicated a somewhat more optimistic outlook for Australian economy in its quarterly update of economic growth and inflation forecasts”.
“The central bank indicated that the unemployment rate has peaked and that signs are mounting that the economy is improving”.
“Today’s report supports our call that RBA has finished cutting rates. In respect of the AUD, the central bank said that there is a reasonable chance that it will depreciate further once the Federal Reserve starts raising its policy rate”.
(Market News Provided by FXstreet)