Aussie dollar basks in RBA's bright outlook

* Aussie boosted by a very bullish RBA outlook

* Climbs to three-month highs against NZ$

* Bond futures ease, rates to rise for long time to come

SYDNEY, Nov 6 (Reuters) - The Australian dollar got a lift on Friday as the coutnry's central bank painted a luminous outlook for the economy, suggesting interest rates and the currency were set to rise a lot further over time.

The Aussie was firmer at $0.9133, from $0.9051 seen here late Thursday, albeit in thin trading volumes. In the near term, it is meeting resistance at the 20-day moving average of $0.9140.

Pointing to buoyant trade, investment and population growth, the Reserve Bank of Australia (RBA) sharply upgraded its forecasts for economic growth [ID:nSYC002289]

Analysts said the statement heralded more rate rises down the road, even if it offered few clues about a move in December. In fact, some say future rate rises may happen in quicker succession if the economy grows faster than expected.

"If it's stronger than expected, which I think is highly likely, they'll ditch the gradual approach," said Adam Carr, an analyst at ICAP.

The Aussie was firm on the yen at 82.79 yen , from Thursday's 81.84. Trade was cautious ahead of key U.S. payrolls data later in the session.

As it is, Australia already offers the highest interest rates in the developed world at 3.50 percent.

While investors are unsure about a 25-basis-point rate rise next month, they are confident rates will be sharply higher a year from now.

A 64-percent chance of a rate rise is seen next month, while a whopping 170-basis-points of hikes are seen over the next 12 months. That outlook kept bond futures subdued, with the three-year contract off 0.090 points at 94.840.

In testament to Australia's sturdy economy and the Aussie's ever-growing yield allure, the local dollar hit a three-month high against the New Zealand dollar on Friday.

It rose to as far as NZ$1.2662 after breaking a key level of NZ$1.2600.

One trader said the rise was largely driven by bets that New Zealand rates should stay at a record low of 2.5 percent for a some time. New Zealand's central bank has pledged to refrain from raising rates until July 2010.

Unlike Australia, New Zealand's economy has taken a big hit from the financial crisis. Unemployment is at a nine-year high and the central bank has warned of a slow and vulnerable recovery.

"There is a two-speed global economy. Asia and Australia are in the fast lane, the Group of Seven is in the slow lane," said Greg Gibbs, an analyst at RBS. ----------------(Snapshot at 4:15 p.m./0515 GMT)---------------- FUTURES

CASH YIELD 90-DAY BILL 90-DAY BILL (DEC) 95.84 (-0.04) AUD3MOIS= 3.64 (3.62) 3-YR BOND (DEC) 94.85 (-0.08) AU3YT=RR 5.04 (4.96) 10-YR BOND (DEC) 94.345(-0.055) AU10YT=RR 5.70 (5.65) AUD/USD 0.9133 (0.9051) US10YT=RR 3.53 (3.51) --------------------------------------------------------------- AUD VS 2-YR 10-YR *AUD 3-YR/10-YR SPREAD USD +379 (+370) +216 (+214) *FUTURES +0.505(+0.53) CAD +326 (+319) +217 (+217) *AUD 2-YR/10-YR SPREAD NZD +38 (+32) -7 (-10) *CASH +101 (+105) --------------------------------------------------------------- (Reporting by Koh Gui Qing)