The Reserve Bank of Australia implemented three 25-basis point rate hikes in 2009 and four more in 2010, but the current “mildly restrictive” stance has not been changed in the last seven months and continues to be deemed “appropriate” according to a statement released today after the Policy Board held its monthly meeting.  The tone [...]

The dollar fell 1.0% against the New Zealand dollar, 0.7% versus the euro, 0.6% against the Canadian dollar, 0.5% relative to sterling and 0.3% versus the Swiss franc.  The greenback is unchanged against the Australian dollar and 0.1% firmer relative to the yen. A senior Chinese official, Guan Ho, warned that the dollar is likely [...]