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#Post#: 142--------------------------------------------------
Goldman
By: fxvictory Date: October 27, 2014, 11:10 pm
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Australian economy – Goldman Sachs says the “worst is yet to
come
HTML http://images.smh.com.au/2014/10/27/5924331/Article%20Lead%20-%20wide62728680101hlfimage.related.articleLeadwide.729x410.11chrc.png1414386587798.jpg-620x349.jpg
Goldman Sachs head of economics, commodities and strategy for
Australia, Tim Toohey, in the Sydney Morning Herald today says
that there is worse ahead for Australia, and that the only thing
holding the Reserve Bank of Australia (RBA) back from adopting
an easing bias is the property boom:
Says mining investment is set to drop further
Price of raw material exports set to fall further
Government revenue to fall also
“It’s going to come down to the unemployment rate, inflation
and, as I say, house prices are more of a second-order concern,”
he said. “Into that March, April period next year, that’s when
it’s going to get interesting.”
On the AUD … Toohey says:
“The currency has to be lower, but it’s lower relative to
where commodity prices actually are going”
“It’s going to feel like a very, very long time, I think,
before that shift in Fed policy can actually give you a breakage
in the currency without potentially additional policy easing on
the local front”
More information ...........
HTML http://www.smh.com.au/business/markets/worst-is-yet-to-come-goldman-sachs-20141027-11chrc.html
HTML http://www.smh.com.au/business/markets/worst-is-yet-to-come-goldman-sachs-20141027-11chrc.html
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