I posted this an hour ago (or so) – it isn’t new news, having come out overnight; but now its featuring in the WSJ!
RBA Board Member Urges ‘Active’ Economy Management (Gated)
Heather Ridout is a member of the RBA Board, and comes from a background as a manufacturing industry representative – she is as dovish as they come.
I don’t want to dismiss her views just ’cause she is a dove, though. I’m digging around trying to find the previous set of inflation numbers, as I believe they may have been revised lower. So we got tame inflation numbers yesterday with the previous also revised down. This revision may be a consideration at the February 5 RBA meeting; we can probably expect Ridout to at least raise the point.
Also consider:
- Chinese growth is appearing to pick up
- The also appears to a new round in the ‘currency war’, talk of this is heating up again. And maybe Mr. Stevens doesn’t want a currency that sticks its hand up saying “Hey, look at my big yields!”