Australian currecy depreciation conspiracy

There are always some people who like to blab about conspiracy, the latest edition is that The Reverse Bank of Australia is intentionally depreciating its currency with the hope to save large iron ore dealers in Australia.

This is the view of Lourenco Goncalves, who is the CEO of Cliffs Natural Resources, but like all theories of its kind, it is untrustworthy and has its logical weak points.

The Reverse Bank of Australia lowered interest rate by 25% to a historically new low at 2,25%, the bluntly CEO aired his view on the same day, saying Australia would manipulate its currency with no mercy.

" They are trying to help Rio Tinto, anyway,they want to help the lady, Gina" said Goncalves, he refers to the richest woman in Australia, Gina Rinehart,whose 55 million tons per year company in Roy Hill ,west Ausrtalia will come into production later this year.

"They will continue to help Fortescue Metals Group and are confident that they can take their Chinese rivals down, they are totally wrong", quoted by Sydney Morning Herald

The comment attracted a lot of attention.

Just like every good conspracy in which there is some truth to be found, like The Reverse Bank of Australia has admitted thta Australian currecy is overestimated, it is especially true if you take a look at the plummeting bulk commodity prices.

But the hint that interest rate cut is to aid some certain enterprise is hilarious ,showing the lack of knowledge towards how the Reverse Bank of Australia works.

The key responsiblity of the Reverse Bank of Australia is to control the inflation while main the employement rate at a proper level to support the economic growth.

Australian currecy depreciation conspiracy

There are always some people who like to blab about conspiracy, the latest edition is that The Reverse Bank of Australia is intentionally depreciating its currency with the hope to save large iron ore dealers in Australia.

This is the view of Lourenco Goncalves, who is the CEO of Cliffs Natural Resources, but like all theories of its kind, it is untrustworthy and has its logical weak points.

The Reverse Bank of Australia lowered interest rate by 25% to a historically new low at 2,25%, the bluntly CEO aired his view on the same day, saying Australia would manipulate its currency with no mercy.

" They are trying to help Rio Tinto, anyway,they want to help the lady, Gina" said Goncalves, he refers to the richest woman in Australia, Gina Rinehart,whose 55 million tons per year company in Roy Hill ,west Ausrtalia will come into production later this year.

"They will continue to help Fortescue Metals Group, and are confident that they can take their Chinese rivals down, but they are totally wrong", quoted by Sydney Morning Herald

His comment has attracted a lot of attention.

Just like every good conspracy in which there is some truth to be found, like The Reverse Bank of Australia has admitted thta Australian currecy is overrestimated, it is especially true if take a look at the plummeting bulk commodity prices.

But the hint that interest rate cut is to aid some certain enterprise is hilarious ,showing the lack of knowledge towards how the Reverse Bank of Australia works.

The key responsiblity of the Reverse Bank of Australia is to control the inflation while main the employement rate at a proper level to suppost the economic growth