More from RBA's Hunter: Policy being set on a 1 to 2 year horizon, its foreward looking

Reserve Bank of Australia Assistant Governor (Economic) Hunter:

• Policy is being set on a one to two year horizon, forward looking
• Estimates for neutral are incredibly wide
• Neutral is not the end point for policy
• Consumption data is being affected by seasonal shifts
• Consumer data has not surprised to the the downside for the RBA
• Expected consumer momentum to soften a little in Q3
• The housing market has been responsive to policy, not surprising
• US trade policy is an unpredictable situation, challenging
• Trade uncertainty does drag on the global economic outlook

Earlier:

• Australia’s underlying inflation in the three months through September is likely to be stronger than the Reserve Bank had anticipated