Pity this was not streamed live, and the only media outlet who picked up on it was Dow Jones. Here are the headlines (with TDS commentary attached) and the DJ article:
"26May11 DJN-DJ AUSTRALIA'S RBA DEPUTY GOVERNOR: A$ RISE REFLECTS GLOBAL ECONOMY [i.e. RBA comfortable with AUD remaining over parity]
26May11 DJN-DJ AUSTRALIA'S RBA DEPUTY GOVERNOR: GLOBAL ECONOMY VERY STRONG [stronger language than the usual two-speed DM vs EM message]
26May11 DJN-DJ AUSTRALIA'S RBA DEPUTY GOVERNOR: A$ LEVEL "UNDERSTANDABLE" [i.e. the RBA aren’t poised to intervene]
26May11 DJN-DJ AUSTRALIA'S RBA DEPUTY GOVERNOR: HOUSEHOLD SAVINGS COULD GO HIGHER [if incomes surge, yes]
26May11 DJN-DJ AUSTRALIA'S RBA DEPUTY GOVERNOR: EXPECTS GLOBAL INFLATION TO RISE
26May11 DJN-DJ AUSTRALIA'S RBA DEPUTY GOVERNOR: BANKS HAVE HIGH CREDIT RATINGS
26May11 DJN-DJ AUSTRALIA'S RBA DEPUTY GOVERNOR: RISKS ABOUT BANK BORROWING OVERSTATED [as detailed above]
26May11 DJN-DJ AUSTRALIA'S RBA: GDP CAN GROW AT 3.0% TO 3.5% BEFORE INFLATION SPARKED [Treasury and RBA forecast 4% GDP growth so inflation will be ‘sparked’]
26May11 DJN-DJ AUSTRALIA'S RBA: IMPOSSIBLE TO INSULATE ECONOMY FROM GLOBAL INFLATION
26May11 DJN-DJ AUSTRALIA'S RBA: GLOBAL INFLATION BEING DRIVEN BY ASIA
26May11 DJN-DJ AUSTRALIA'S RBA: INTEREST RATES IN ASIA REMAIN QUITE LOW
Australian Central Bank Official Sees Higher Global Rates
Date: 05/26/2011 10:40
SYDNEY (Dow Jones)--Interest will have to rise around the world to combat inflation, the deputy governor of Australia's central bank said Thursday.
"We're at a stage in the cycle where the world economy is still gathering strength, that's going to be the dominant force in the world," said Ric Battellino, Deputy Governor at the Reserve Bank of Australia, or RBA, in a question and answer session following a speech in Sydney. "In that environment, it would be normal to see inflationary pressures continue to rise. That is likely to be accompanied by rises in local interest rates."
The comments come ahead of the RBA's next board meeting set for June 7. The bank has been on hold with rates at 4.75% since November."
