- As expected, the Reserve Bank of Australia has left its key overnight cash-rate target at a record low of 2.5%.
- RBA Governor Glenn Stevens said the Australian dollar is "uncomfortably high" and needs to fall for the country to achieve balanced growth.
- "The RBA is certainly using stronger language," says HSBC economist Paul Bloxham. "I think they're really trying to jawbone the Aussie dollar lower if they can.
- Still, markets don't expect a rate move in the next half year, especially with low borrowing costs boosting house prices.
- The AUD-USD is -0.3% to $0.9483, while the S&P/ASX 200 is +0.8%. (PR)
- ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
at CNBC.com (Sep 22, 2014)