The RBA's case for intervention gains currency

September's soft GDP figures show that domestic demand is struggling. If the US taper doesn't start soon, the stubbornly high dollar might need more than the Reserve Bank's war of words.

If there is any remaining doubt over the need for the Australian dollar to fall, a quick gander at gross domestic product over the past year should set you straight.

Growth in the September quarter was weaker than the market expected, with the economy 2.3 per cent higher over the year (compared with expectations of 2.6 per cent higher).


Graph for The RBA's case for intervention gains currency

There are a few points worth noting.

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