• Says Australian job market ‘coped reasonably well’.
  • Unemployment hasn’t risen despite ‘modest’ growth.
  • RBA saw it appropriate to be a little more accomodative.
  • Says global outlook, labor data have ‘softened somewhat’.
  • Construction pickup could be help ease mining job moderation.
  • Says Australia must adapt to keep unemployment down.
  • Says labor market has ‘generally softened’ in recent months.
  • Sees no signs of ‘exuberance’ returning to housing.
  • IMF downgrade just fraction below 30-year average.
  • Sees reasonable growth in global economy.
  • Australia is well placed amid average global growth.
  • Demand for resources in China to stay strong.
  • Says Australia’s multi-speed economy is ‘very real’.
  • A$ likely to stay high vs. historical averages.

AUD/USD just hanging out near session highs, trading at 1.0223/26.

Now trading up to 1.0238/42.