Australian GDP forecasts from National Australia Bank
- 2.6% for 2015/16
- 3% for 2016/17
more to come
Earlier from NAB, their take on Glenn Stevens' speech today:
Economy is improving, Stevens citing business surveys
- "conditions outside mining have been slowly improving, not deteriorating"
RBA concerns over housing have eased but remain
- the "housing market may be calming...though by how much and how persistently we cannot yet know"
- Recent mortgage rate increases by the major banks were not viewed as having a significant effect ... and importantly business rates were not affected
Further details on the RBA's outlook for the economy will be contained in Friday's Statement on Monetary Policy
- In the Q&A the Governor said the potential growth rate assumption had been lowered