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Markets shrug off the speech from RBA...........>

RBA
RBA: Markets shrug off the speech from RBA Assistant Governor Kent, little new
to be found there at the first glance. The full text of his address can be found
at https://www.rba.gov.au/speeches/2019/sp-ag-2019-08-13.html.
- Kent concluded that "the transmission of monetary policy in Australia to
financial conditions is working in the usual way." He noted that "much of the
reduction in banks' funding costs has been passed through to business and
household borrowers," while the RBA's rate cuts have contributed to AUD
depreciation, even as other major central banks eased policy.

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