Comments from Christopher Kent of the RBA now:
- Says animal spirits are lacking among business
- Many elements in place for non-mining investment to pick up
- Cyclical recovery is in order, question is timing
- Subdued labour market conditions weighing on wage growth
Christopher Kent is the Assistant Governor (Economic) at the Reserve Bank of Australia
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I'm gonna give Kent the benefit of the doubt and assume his 'animal spirits' comment is an observation and not a lecture. Its never a good look when highly paid bureaucrats lecture business people on taking risk. Just IMO, of course.
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More:
- Sees the trend in the unemployment rate gradually rising
- Forecast is that unemployment will peak around 6.4% ... says there is some uncertainty around that forecast
