Daily digest market movers: Aussie gains strength on monetary policy divergences
- Australian Dollar is bolstered by the latest RBA meeting minutes, which reveal a reluctance to ease monetary policy soon.
- RBA projects inflation to stay above the 2-3% target until the end of 2025, suggesting interest rates may remain elevated for an extended period.
- Governor Bullock has recently stated that the bank has no plans of cutting in the near term.
- China’s recent measures to support the housing market are not expected to have a significant impact due to underlying debt issues, but they do offer some additional support for the Australian Dollar, given the close economic ties between Australia and China
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