RBA's Debelle says will see how data goes for next few months, reassess outlook if need to

Author: Justin Low | Category: Central Banks

This simply says that the RBA is starting to get worried

The poor Q3 GDP report yesterday is having a real significant impact on the central bank's outlook. As mentioned then, the report bodes ill for the RBA's outlook in 2019 and they're starting to be concerned about the possible downturn the economy could take if consumption continues to slump amid falling house prices and rising household debt/low savings ratio.

Debelle's comments above basically means that the central bank will watch out for more data to feed into their outlook and if things aren't looking bright, they may consider moving away from hiking rates and possibly move towards cutting them instead; as he mentioned earlier.

If you're looking at an inflection point in which the RBA starts to consider to be more dovish, this is potentially it. AUD/USD sits at 0.7217 currently, near the lows for the day.

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