RBA’s Debelle: Do not see too much upward pressure on house prices
|Further comments are crossing the wires from the Reserve Bank of Australia (RBA) Deputy Governor, as he now responds to the Q&A session following his speech titled “Monetary Policy in 2020”.
Key quotes
“Slower population growth a drag on apartment prices, rents.”
“Market for detached homes is doing well, but do not see too much upward pressure on prices.”
“Do not see much risk of inflation rising too high in the next three years.”
“Not convinced that negative rates would work.”
“Need unemployment rate a "fair bit lower" than where it is now.”
“Lot of uncertainty on economy. Long way to get back to pre-pandemic levels.”
Market reaction
AUD/USD keeps its range above 0.7300 despite the comments on negative rates. The aussie rises 0.37% to trade at 0.7310, at the time of writing.
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