Further comments by RBA deputy governor, Guy Debelle
- Does not expect to have to introduce QE
- Still expects decent growth in the economy
- We are in uncharted territory with downturn in house prices
- But so far, housing has unwound in a reasonably orderly way
He's putting a lot of emphasis on the GDP-jobs conundrum as he also says that the central bank's April statement tweak very much reflects the tension seen in that area. This once again means that labour market data will be of particular importance in determining the RBA's next policy steps moving forward.
