Reserve Bank of Australia Governor Lowe with more, now in the Q&A
Speech is here:
More now:
- we discussed 25 or 50bp at the June meeting, will discuss 25 or 50 at the July meeting as well
- high inflation is cutting into people's real incomes
- conscious that households have more debt, but also have more assets
- household spending has been pretty resilient
- does not see a recession on the horizon
- don't think that the unemployment rate needs to rise to get inflation done
- says its possible the u/e rate will rise, it is a narrow path we are on
- underlying inflation to return to band in a couple of years
The next Reserve Bank of Australia meeting is on July 5. The RBA schedule is to meet on the first Tuesday of each month (except there is no meeting January - Australia is at the beach!)
