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Article: $A flies on hawkish rates statement.(Reserve Bank of Australia's economic policy boosts Australian dollar)(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- February 7, 2005
- Author:
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feb 07, 2005 (The Australian Financial Review - ABIX via COMTEX)
The Reserve Bank of Australia's warning that it will tighten monetary policy boosted the Australian dollar on 7 February 2005. It touched $US0.7728 on expectations of a rise in interest rates in coming months and was fetching $US0.7723 in late afternoon trading. In its quarterly statement, the central bank said pressure on wages and prices was rising, because of strong economic demand. Bond prices fell on the news while yields rose. The official cash rate has been unchanged at 5.25 per cent since late 2003.
Publication Date: 8 February 2005
RESERVE BANK OF AUSTRALIA: ...