The next move in interest rates is more likely up the down, though it is some way off, Reserve Bank of Australia’s (RBA) Kent said while speaking at a Bloomberg ever earlier today.
Key quotes
- Says next rate move is likely to be up but does not rule out a cut if its needed.
- Progress is being made on lowering unemployment and rising inflation, but its gradual.
- Wage growth in Australia is beginning to pick up.
- It’s puzzling why consumption so weak.
- Risk that credit supply tightens unnecessarily
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