Philip Lowe, Reserve Bank of Australia Governor
- Sees no near term need for change in policy adjustment
- Next rate move likely up, not down
More:
- We expect stronger growth in 2018 than in 2017, further reduction in unemployment
- Expects inflation to increase a little from its current low rate
- Says likely next move in interest rates will be up, not down.
- Progress on unemployment and inflation likely to be only gradual
- Says board does not see a strong case for a near-term adjustment of monetary policy
- Says picture on non-mining business investment better than for some time
- Investment shifting to information technology, service industries
- Emphasises importance of education, accumulation of human capital in investment
- Says tax discussion important but not the only factor in investment
Yesterday's RBA decision carried on the long string of 'no change' announcements. The RBA is either happy or a deer in headlights I guess. Lowe sounds happy, could be part of the job, yeah?
AUD up a few tics.
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