While you've been on a holiday break long weekend (if you're in the UK or US) Ian Harper, member of the policy board at the Reserve Bank of Australia has been nattering away.
Justin had the headlines yesterday: RBA's Harper says falling house prices wouldn't scuttle rate hikes
Harper spoke with the WSJ, a few more of this comments from the piece (gated):
- From my perspective … what matters is what is happening right across the economy
On slow wage growth:
- says no obvious evidence of emerging wage pressures
And thus, his short-term outlook for policy
- We've made clear that there isn't a case for putting interest rates down, and there isn't a case for putting interest rates up
- We are not jerking anything around, we have beady eyes on the forecasts. We are still sticking with this forecast. We are going to get there, but it is slow and steady
The RBA has been on hold for, like, ever, and look set to stay on hold … eyes are developments in the economy for indications for the next move.
Harper is Dean of Melbourne Business School at the University of Melbourne
