RBA’s routine IMF payment catches out market on high alert for intervention, people say

Thu, 28 Nov 2013

By Tina Morrison Nov. 28 (BusinessDesk) – A Reserve Bank of Australia currency transaction last month, widely speculated as a sign the bank had intervened to drive down its currency, was actually an uncontroversial payment to the International Monetary Fund, according to people with knowledge of the matter. In a note to clients last week, Singapore-based UBS currency strategist Gareth Berry speculated that “the RBA’s patience may be running out, and that the central bank may have finally begun to lean against the wind – albeit very gently,” B...

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