The Reserve Bank of Australia (RBA) Assistant Governor Ellis is on the wires now, via Reuters, delivering a scheduled speech at an event hosted by the Australian Industry Group, in Geelong.
Key Headlines:
Effect of structural change in retail sector on pricing models has been “profound.
Flat-to-falling retail prices a “big change” in pricing behaviour for some important parts of CPI.
The question of how long this shift will last has been a key issue when compiling inflation forecasts.
Australia’s manufacturing sector performing strongly with their exports increasing.
Upswing most evident in scientific instruments, medicinal, pharmaceutical products.
Have factored strong manufacturing into forecasts, but grappling with how long it will run.
June quarter public sector wages growth boosted by one-off factor, expect rate of growth to fall back to recent averages.
The Australian dollar remains unfazed by the mixed comments from the RBA policymaker, with AUD/USD still hovering near 0.6750 region.
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