RBA Stevens:

  • APRA using tools to lean into housing boom is sensible

(Stevens is referring to the use of macroprudential tools to help ease the house price boom)

More:

  • Says ‘normal’ level of the cash rate is likely to be a bit lower now
  • Says room for economy to grow a bit faster over the next couple of years
  • Settings are in place for non-mining sector to improve
  • Says non-mining spending is looking better
  • Says outlook will be uncertain for a little while yet
  • Says he is puzzled why the US dollar is so low, its obvious the Federal Reserve will be out of QE in a few months

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And Q&A finished now