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Forex Flash: RBA will need to cut significantly; 2.25% expected by Sept quarter - NAB

By FXstreet.com,  January 10, 2013, 06:44:00 PM EDT

FXstreet.com (Barcelona) - While the Australian Dollar continues to trade at hefty level around the 1.06 vicinity, NAB economist Robert Henderson vaticinates that the Australian economy will continue to weaken and unemployment rising "noticeably through 2013", thus he suggests, "the RBA will need to cut significantly further than previously expected in 2013."

Mr. Henderson adds: "We now expect a terminal cash rate of 2ΒΌ% in the September quarter of this year. We continue to expect the Australian dollar to track gradually lower during 2013, as the combination of continuing RBA rate cuts and a firmer US dollar weigh on the currency. Nonetheless our forecast of around parity in late 2013 still represents a strong currency."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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