More from RBA Gov Lowe says the Bank is closer to normal setting for rates

More from Reserve Bank of Australia Governor Lowe, testifying in parliament today:

• Australia in a much better position than the Fed because wages are still contained
• Outlook for the global economy is very weak
• Closer to normal setting on rates
• Next board meeting will consider whether to hike by 25bp or 50bp
• At some point will not need to hike by 50bp, getting closer to that point
• Data on Australian economy suggests economy doing very well
• Would not surprise if house prices fell by 10% from their peak

Earlier:

• RBA Gov. Lowe says inflation is too high

Lowe's further remarks are still not providing much clarity on if the rate hike at the Bank's October 4 meeting will be 25bp or 50bp, Indeed, Lowe specifically says that question is one to be considered at the meeting.

Reading between the lines I'd punt on 25 based on these remarks though. Others might disagree though.

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aud AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term