RBA’s Lowe: RBA has not sought to overly fine tune monetary policy
|More comments crossing the wires from the RBA Chief Lowe, as he continues to make his speech at a business briefing in Perth.
Main Points:
High house hold debt means consumption will be quite sensitive to higher rates
RBA has not sought to overly fine tune monetary policy
Oz economy improving but clearly there are risks
Monetary policy has important role in supporting economy through transition
Need stronger productivity to lift real per capita incomes
Period of global monetary expansion now drawing to a close
Oz currently on course to lower unemployment, lift inflation to middle of target range
Retreat in US leadership on open markets would complicate outlook
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