RBA’s Lowe: Growth depends on keeping virus under control


The economic growth depends on keeping the coronavirus situation under control, the Reserve Bank of Australia (RBA) Governor Phillip Lowe said at a webinar hosted by the Committee for Economic Development of Australia.

Additional quotes

Lower population growth will lead to slower nominal GDP growth.

Lot of stimulus in the system and in housing market.

High savings rate means people have means to spend.

Incredibly unlikely for inflation to become a problem in medium term.

Possible house prices could rise a lot, but unlikely because of slower population growth.

Macro prudential instruments effective in controlling debt.

Chinese economy growing quite strongly, to Australia’s advantage.

Certainly, issues with Australian-China trade, hope they work out well.

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