The latest from the Reserve Bank of Australia
- Next cash rate move more likely to be up than down
- But no strong case for a near term move
More, Headlines via Reuters :
- employment stronger than expected, unemployment to fall to 4.75% by mid-2020
- members noted could be "more pronounced decline" in unemployment in the near term
- members noted average real earnings had not risen for six years, remained a key uncertainty
- increase in wages growth necessary for inflation to reach target range
- impact of slow incomes growth, high debt "warranted close monitoring"
- fall in A$ over 2018 likely to have been helpful for domestic economic growth
- data pointed to further solid GDP growth in the Sept qtr, to avg 3.5 pct over 2018 and 2019
- growth to be supported by accommodative monetary policy, stronger terms of trade
- Sydney and Melbourne housing markets had eased, credit tighter than has been for some time
- large pipeline of work, strong population growth to support housing construction
- noted reports large housing developments finding it harder to get bank financing
- trade protectionism remained a significant risk to the global economy
- forecasts assumed a small negative impact on trading partner growth from tariffs
AUD pretty much non responsive to a perhaps slightly happier RBA.
ps. Please note that Governor Lowe will speak later, from 0820GMT
