RBA’s Lowe: Inflation expectations have declined, but not at unprecedented lows

Reserve Bank of Australia's Governor Philip Lowe is crossing the wires via Reuters, stating in his speech, titled "Inflation and Monetary Policy", that recent data suggest the Australian economy is adjusting "reasonably" well.

More headlines (via Reuters):

  • Recent data suggest economy adjusting reasonably well
  • End in sight for slump in mining investment, commodity prices have risen recently
  • Watching employment, stability of financial system when setting rates
  • When judging if inflation is too low, have to consider the public interest
  • Have to balance returning inflation to target against health of household finances
  • Inflation expectations have declined, but not at unprecedented lows
  • Says need to guard against inflation expectations falling too far, Q3 CPI will be important update
  • Labour market is mixed, jobless rate down but underemployment high and wages weak
  • Home prices rising briskly in some areas, falling in others
  • Rental growth very low, big increase in housing supply still to come
  • Says will, of course, continue to review rates at coming policy meetings
  • Board conscious that rates already very low historically, bad for savers

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