Reserve Bank of Australia Assistant Governor (Economic) Sarah Hunter spoke at an event in Sydney.
Full text:
In summary:
- February statement reflected the RBA board being more cautious than the market about prospects for further easing
- Focused on US policy settings and how they will impact inflation in Australia
- Rebound in household consumption in December quarter not just a temporary pick-up
- Link between RBA's forecast and board's policy decision not mechanical
- Always risks and uncertainties around the central forecast
Hunter emphasizing the RBA will be taking a slow approach to rate cuts ahead. Which is what we've been thinking. Well, me anyway.
