The Reserve Bank of Australia (RBA) Governor Lowe is on the wires now, via Reuters, making a scheduled speech titled "Demographic Change and Recent Monetary Policy" at the Anika Foundation Luncheon, in Sydney.
Board sees no strong case for near-term rate move.
Says next rate move likely to be up if economy evolves as expected.
The timing of move depends on unemployment, inflation moving to middle of target range.
Says natural for rates to eventually return to more "normal" levels.
Financial risks moving in right direction as house prices, borrowing eases.
Wages picking up in pockets of labour market, broader rise will be gradual.
Says expects inflation to rise close to 2.5 pct in 2020.
Unemployment to reach 5 pct over next few years.
Says 5 pct is conventional estimate of full employment, but could go lower.
Latest data consistent with forecasts for economic growth bit above 3 pct in 2018/2019.
Says Australia’s demographic profile more positive than of many other countries.
Higher migration has led to faster population growth than in other advanced economies.
Migration one reason economy has experienced higher average growth.
Migrants tend to be younger, changing our demographic profile in a positive way.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.