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  1. #1181
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    Fxwirepro: Aussie Gains Against Major Peers After Rba’s Monetary Policy Statements



    AUD/NZD is currently trading around 1.0641 marks.
    Pair made intraday high at 1.0647 and low at 1.0619 marks. Intraday bias remains bullish till the time pair holds key support at 1.0623 levels.
    In addition, a sustained close above 1.0623 will drag the parity higher towards 1.0727/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
    Alternatively, a sustained break below 1.0588 mark will take the parity down towards key supports around 1.0497, 1.0450, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively. Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
    RBA: Underlying inflation to remain under 2 pct for much of forecast period, reach 2 pct by end 2018.
    RBA: Prospects for economy positive, but low inflation allows for "even stronger growth". RBA says A$ remains significant source of uncertainty for inflation, growth forecasts.
    RBA forecasts underlying inflation 1.5 pct by end 2016, 1.5-2.5 pct end 2017, 1.5-2.5 pct end 2018.
    RBA forecasts GDP growth 2.5-3.5 pct end 2016, 2.5-3.5 pct end 2017, 3-4 pct end 2018.
    RBA says unemployment to fall only a little out to 2018, employment growth to be modest this year.
    RBA quarterly statement repeats policy easing to help foster growth, offers no forward guidance.

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  2. #1182
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    Bank of England Cuts Benchmark Interest Rate to 0.25 Percent



    The Bank of England lowered its benchmark rate to a historical low and revived a bond-buying scheme to help prop up the UK economy from the impact of the Brexit vote.

    On Thursday, the bank announced an unexpectedly large stimulus package. First, the bank lowered its benchmark interest rate to 0.25% down from 0.5% and it sees further cuts toward zero in the following months. Second, it revived a U.K. government bonds purchasing program that has been halted since 2012, and added that it would start buying corporate bonds as well. A new term-funding program for banks was also announced, providing lenders with extremely cheap four-year loans to fund lending to households and enterprises. The rate cut was supported with a unanimous vote, while 3 voted against the bond purchasing scheme.

    The bank also lowered its growth forecast for 2017 sharply, recording the largest downgrade since it started releasing such projections in 1993. It lowered its growth forecast for next year from 2.3% in May to 0.8% and pared off its 2018 projections from 2.3% to 1.8%

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  3. #1183
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    Fitch Retains Austria's Rating At 'AA+'



    Fitch Ratings affirmed sovereign ratings of Austria at 'AA+' with stable outlooks late Friday.

    The rating agency said the economic growth is expected to remain on a steady upward trend and average 1.6 percent in 2016-17 after four years of sluggish activity.

    The underlying growth is forecast to pick up in 2017 as investment continues its steady recovery and net exports make a positive contribution to growth.

    The fiscal deficit was better than expected in 2015 at 1.1 percent of GDP compared with a 1.9 percent target, Fitch said.

    Further, the agency estimates Austria's fiscal policy to remain prudent, producing small primary general government surpluses during 2016-2018.

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