Reserve Bank of Australia Governor Lowe is not conveying much concern over the economy in his remarks:
- More from RBA's Lowe - pick up in wages growth is gradual, in 2 yrs time still sees it under 3%
- RBA Gov Lowe: Says the Australian economy has bounced back faster than expected
Lowe can be summarised as saying:
- The economy has come back, its bounce has been quicker & stronger than expected
- However, the comeback has been interrupted by the Delta variant COVID-19 outbreaks
- Once that's over the economy is expected to bounce back quickly when restrictions end
- The RBA expects wages and core inflation to remain subdued
- The RBA's stimulus is providing substantial support
AUD/USD is not doing much at all dribbling a few tics lower. Arrow indicating where Lowe started:
