As far as being news to anybody it isn't and I think most investors know the markets are going to correct, that is just common knowledge, but the RBA should not be making predictions or it may well be seen as an intervention in the markets by the RBA. Stevens should not be making statements on the markets on behalf of the Australian Reserve Bank. What if they are wrong and lots of people loose a lot of money. This is the RBA and not just another broker saying this. If they think there are anomalies in the markets they should do something about the Property market not the equities market as that is their sphere of influence. They should be raising rates not mouthing off but they wont because the RBA knows the Australian banks have over 80% of all their business in Australian property and any rate rise will hit both the Property market and the banks profits.
They should stay the hell out of it and stick to rates and inflation otherwise the RBA will just end up running the markets with predictions and comments.
