Further comments by RBA governor Philip Lowe in Melbourne
- RBA certainly noting tightening of credit conditions
- No "silver bullet" to improve labour productivity
- Need "laser-like" focus to make Australia an attractive place to invest and employ
- Tax cuts would provide small positive to household spending
- As long as house price declines are not large, it will be manageable
Adding to his earlier comments here. Nothing much in this batch, but he earlier highlighted on the key issues that still needs to see improvement before the central bank can move towards rate hikes - wages and inflation.
Seems like he's not too particularly concerned by the declining house prices in Sydney and Melbourne just yet.
