The Reserve Bank of Australia (RBA) Governor Phillip Lowe is on the wires now, via Reuters, making a scheduled speech titled "Productivity, Wages, and Prosperity" at an Australian Industry Group event, in Melbourne.
Likely next move in rates is up not down, but not in near term
Any increase in interest rates still some time away.
No strong case for a near-term adjustment in monetary policy.
If economic growth is sustained, next move in rates will be up, not down.
March qtr GDP data "bit stronger than we were expecting", consistent with the central scenario.
Despite strong GDP growth, no net increase in labor productivity over past two yrs.
Paying close attention to household finances, carefully watching consumption growth
Low wage growth leading to weak inflation in Australia, diminishing a sense of shared prosperity.
"Some pick-up" in wages growth would be a welcome development.
A return to wage increases of 3 pct or more "both possible and desirable".
Liaison program suggests faster wage growth in areas of capacity constraints.
Risk of a trade war, political development in Italy tail risks for global growth.
Increasing strains in emerging markets of Argentina, Brazil, Turkey another potential source of financial shock.
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 securities. 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 Forex 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.