RBA's Lowe: further AUD gains would slow inflation pickup, employment
|RBA's Lowe is testifying before the House of Representatives’ Standing Committee on Economics in Melbourne. Markets have been waiting to hear if he jawbones AUD and shows concerns about the strength of the Aussie but so far, only if's and buts and no sense of urgency or immediate concern.
Comments so far:
- Global economy has strengthened since last meeting
- China growth has surprised on upside of late
- Global economy has strengthened since Feb.
- RBA working closely with APRA on financial risks
- Measures will work to strengthen household b/s
- Investment ex-resources pickup taking longer than expect.
- More AUD gains would slow inflation pickup
- Likely to be some time before reach full employment
- Says cash rate at 1.5% supporting jobs growth
- Further AUD gains would slow inflation pickup, employment
- Says board prepared to be patient
AUD/USD: RBA's Lowe not rocking the boat, yet...comments so far included
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