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Mckinsey Update on Global Debt Levels

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    The following is a summary of the Mckinsey debt report by


    Mckinsey Update on Global Debt Levels

    Gold gets technical as RBA joins rate cut circus

    06 February 2015
    AUD gold at one point pushed toward $1700 an ounce earlier this week, as the Reserve Bank of Australia joined the global interest rate easing cycle, cutting the local cash rate to a record low of 2.25%, sending the local currency at one point toward 0.76 cents vs. the US Dollar
    Prices have since pulled back, as the AUD has staged something of a rally, whilst USD gold is also now trading at $1266 an ounce, down $20 an ounce or so on intra-week highs.
    The decision by the RBA was very much priced into the market by the time they had actually made it, with most forecasters now predicting that rates will be cut again, to just 2% by the end of Q2 2015 at the latest.
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