Hi All,
Looks like the Australian Dollar exchange rate is set for another tumble as experts suggest that the Reserve Bank of Australia needs to cut rates further to fend off the "r" word. Macquarie Group interest rate strategist Rory Robertson was quoted in news.com.au that interest rates will be as low as 4.25% by next year.
Whilst this is good for picking up Australian property prices and Australian Buliding Industry which has been extremley slow, but this is not ultimately what the RBA seams concerned with. what seams to be the bigger worry is the high level of consumer debt and slowing growth in Australia which is now at alarming levels. (Even inflation is on the back burner for the time being.)
"As the financial conditions continue to deteriorate, the Reserve Bank is becoming increasingly worried about the outlook for growth," Mr Robertson said. "So the Reserve Bank is cutting aggressively to limit the risk of recession in Australia."
But enough of this doom and Gloom what this means for many of us in the UK is that if you are migrating to Australia you are now looking at a much better rate to buy Australian dollars and if you are an Australian expat you have now have a chance to buy and home and send money home at a much better AUD exchange rate
Pounds to Australian dollars currently 2.5800
Regards
Damian George
Need to buy Australian Dollars call IMS Foreign Exchange for a free quote +44 207 183 2790
Looks like the Australian Dollar exchange rate is set for another tumble as experts suggest that the Reserve Bank of Australia needs to cut rates further to fend off the "r" word. Macquarie Group interest rate strategist Rory Robertson was quoted in news.com.au that interest rates will be as low as 4.25% by next year.
Whilst this is good for picking up Australian property prices and Australian Buliding Industry which has been extremley slow, but this is not ultimately what the RBA seams concerned with. what seams to be the bigger worry is the high level of consumer debt and slowing growth in Australia which is now at alarming levels. (Even inflation is on the back burner for the time being.)
"As the financial conditions continue to deteriorate, the Reserve Bank is becoming increasingly worried about the outlook for growth," Mr Robertson said. "So the Reserve Bank is cutting aggressively to limit the risk of recession in Australia."
But enough of this doom and Gloom what this means for many of us in the UK is that if you are migrating to Australia you are now looking at a much better rate to buy Australian dollars and if you are an Australian expat you have now have a chance to buy and home and send money home at a much better AUD exchange rate
Pounds to Australian dollars currently 2.5800
Regards
Damian George
Need to buy Australian Dollars call IMS Foreign Exchange for a free quote +44 207 183 2790
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