Today, RBA governor Lowe is speaking on the very hot topic of “The Housing Market and the Economy” in Sydney and more comments are coming through…
- Business investment is on fairly reasonable upswing.
- Says is not showing up in output data as would be expected.
- No reason to adjust inflation target.
- Says confident will get back to middle of 2-3 pct band.
- Other sectors of economy do not show slowdown implied by GDP.
- Q4 and Q3 GDP likely to show growth significantly below trend.
- RBA’s Lowe says RBA has the flexibility to adjust MP in either direction
Philip Lowe replaced Glenn Stevens as governor of Australia’s central bank. Lowe was the Deputy Governor of the Reserve Bank of Australia, a position he held since February 2012.