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Citi: Australian Housing is Cooling

The housing market isn’t crashing, but it is cooling, which could force the Reserve Bank of Australia to cut interest rates again, Citi economists say. Stretched valuations that have fuelled speculation of an impending crash had been driven by under supply in the market, which peaked at 49,000 dwellings in 2013-14, versus the RBA’s estimate …

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AUD/USD Back Above 0.7250 after Stevens’ Comments

The Australian dollar jumped back towards one-month highs overnight, shrugging off a new low in iron ore prices after the RBA governor told economists they should “chill out” on the prospects for another rate cut next week. Reserve Bank of Australia’s Glenn Stevens on Tuesday evening told a gathering of business economists that he “happened …

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RBA Minutes: We Have Scope to Cut if Needed

Australia’s central bank remains cautiously optimistic about the outlook for the economy, but has left the door open to cut interest rates further if growth slows. In minutes of its November 3 policy meeting, when policy makers left interest rates unchanged at a record low 2 per cent, the Reserve Bank of Australia said “the …

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