“The overnight fall in the Australian dollar shows once again that just a few carefully targeted words from Reserve Bank governor Glenn Stevens have the power to move markets. While Mr Stevens did not say the Reserve Bank was about to intervene to pull the dollar down, his comment that the option was in the monetary policy ‘toolkit’ proves that words from the central bank governor can be timely bullets. The impact-laden comments show the RBA’s frustration in its attempts to lower the dollar, despite 2.25 percentage points of cuts to the official cash rate since late 2011.”
http://www.abc.net.au/news/2013-11-22/glenn-stevens-jawboning-moves-currency-markets/5111212
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
China’s Largest Bitcoin Exchange Seeks Recognition for Currency
Oklahoma town bans e-cigarettes on public property
Where Bank Regulators Go to Get Rich
Army plans switch to ‘green’ bullets containing copper
When 'Smart Homes' Get Hacked: I Haunted A Complete Stranger's House Via The Internet
Trump administration abandons crackdown on legal marijuana
New York Financial Regulator: ‘So Be It’ If Transparency Harms Bitcoin
Firestone Did What Governments Have Not: Stopped Ebola In Its Tracks
China signs its second-biggest yuan swap line with European Central Bank
Bernanke backpedals, says Federal Reserve stimulus still needed
One By One, California Agents Track Down Illegally Owned Guns
Sugar 'could be addictive'; UK health czar urges 20% tax
Saudi Arabia warns of shift away from U.S. over Syria, Iran
'Virtual' Currencies Draw State Regulator Scrutiny
Poll: Public doubts rise on surveillance, privacy