Recap 7-02-13

Commentary:

None

Notable:

  • RBA kept rates unchanged as expected.
  1. Inflation has been consistent with the medium-term target and is expected to remain so over the next one to two years, notwithstanding the effects of the recent depreciation of the exchange rate.
  2. The Australian dollar has depreciated by around 10 per cent since early April, although it remains at a high level.
  3. The Board also judged that the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand.

China may introduce deposit insurance plans by the end of this year, the official China Daily reported today – Bloomberg

Upcoming Data:

  • Wed: EU Service PMI, Retail Sales, US ADP Employment, Jobless Claims, Non-Mfg ISM, AustraliaBuilding Approvals
  • Thu: US holiday, BoE, ECB,
  • Fri: US Employment, Canada Employment
  • Mon: Japan Current Account, Eco Watchers Survey, Canada Building Permits, BoC Loan Officer Survey, NAB Business Conditions, China CPI
  • Tue: Canada Housing Starts
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