Nothing on the Australian dollar from Debelle
There actually isn't much on monetary policy either
Headlines via Reuters, Debelle:
- says expects inflation around 2.25 pct next couple of years
- expects most downward forces on inflation to eventually abate
- "we would like to be more confident" inflation will be sustained at target
- says current accommodative stance of monetary policy will assist this outcome
- uncertainty on govt energy policy contributed to significant underinvestment in new supply
- electricity prices now falling, could depress inflation over several quarters
- how electricity pricing plays out a "significant uncertainty" for inflation
- says increased retail competition has put downward pressure on inflation
- says expects these competition forces still have "some way to run"
- govt steps to lower childcare costs will depress CPI in Q3, maybe longer
- expects rent inflation to pick up, but take some time to impact on cpi
- "considerable uncertainty" about spare capacity in labour market
- says drought to have mixed impact on food prices
Here is the full text of his speech: Low Inflation
more to come
