Reserve Bank of Australia Governor Lowe spoke on Tuesday, Giles had the info:
A couple of analyst responses now, varying interpretations 9bolding mine):
- Lowe said Australia's economy is at a "gentle turning point"
- reiterated he's prepared to cut interest rates if needed to support the recovery
- but he did not signal an imminent move which some in the market had been hoping for
- speech was not as blunt as the one he gave … in May ahead of cutting in June
- we still think it likely that the (RBA) will cut rates next week to 0.75% given the downside risks to global growth, spare capacity in the labour market, and subpar growth in GDP
- there are few signs yet that tax cuts are boosting spending