RBA Gov Lowe is still confident consumers will spend more

Author: Eamonn Sheridan | Category: Central Banks

Reserve Bank of Australia Governor Lowe with the rose coloured glasses. As usual.  

  • says GDP outcome was broadly in line with our expectations
  • weakness of consumption was a surprise
  • still confident people will spend extra income
  • says evidence is people will spend tax rebates, may take longer this time
  • says weakness of Q3 consumption does not have particular messages for future

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