12 Feb 2016
RBA: No real market guidance from the RBA Governor - TDS
Research Team at TDS, notes that there was no real market guidance from the RBA Governor's testimony to the Parliament Committee today.
Key Quotes
“He said we need to see how the data evolves following the market volatility, but his instinct says the global gloom is overdone. On China’s reserves he said they are ‘pretty big’ and that he is not worried by renminbi adjustment, stating capital outflows reflect policy uncertainty. On the AUD, he said it has adjusted, and that the decline has helped many sectors, but didn’t rule out further falls.
Australian home loans for Dec rose a little less than the +3% expected. The data reveals that curbs are helping to restrict the value of loans to investors while owner occupier loan growth remains healthy.”
Key Quotes
“He said we need to see how the data evolves following the market volatility, but his instinct says the global gloom is overdone. On China’s reserves he said they are ‘pretty big’ and that he is not worried by renminbi adjustment, stating capital outflows reflect policy uncertainty. On the AUD, he said it has adjusted, and that the decline has helped many sectors, but didn’t rule out further falls.
Australian home loans for Dec rose a little less than the +3% expected. The data reveals that curbs are helping to restrict the value of loans to investors while owner occupier loan growth remains healthy.”