20.08.2014 - Head of the Reserve Bank of Australia made a statement

Today took place the speech of the head of the Reserve Bank of Australia Glenn Stevens in which he noted that financial conditions slightly improved, economic forecasts remain conservative, activity increased in all sectors except mining. Mr. Stevens also noted the negative impact of Federal Reserve raising interest rates, the possibility of currency interventions, as well as weakness of the labor market of the country.

We maintain a medium-term negative outlook for the Australian dollar, because of the statement by the representative of the RBA, as well as taking into account the dependence of the Australian economy of China, the industry, of which shows a relatively weak growth rate, and crisis the in construction sector.

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