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