Aussie dollar likely to fall 4% more by next year, say forecasters
Singapore
THE top Australian dollar forecaster sees a further 4 per cent loss by mid-2015, cushioning the economy as the Reserve Bank takes steps to curb a housing boom.
HSBC Holdings, the most accurate predictor in the four quarters through September in data compiled by Bloomberg, sees a drop to 84 US cents by June 2015. The bank sees a US recovery boosting the greenback against the Aussie, giving the RBA room to raise borrowing costs in the second quarter of next year, said Paul Bloxham, HSBC'S chief Australia economist in Sydney, who used to work at the central bank.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’