Reserve Bank of Australia Governor Lowe with more, Q&A session now.

Earlier:

More:

  • says getting faster wage growth would benefit everyone in australia
  • not going to raise cash rate until inflation in 2-3% range
  • expect to taper bond buying and stop before raise cash rate
  • says cannot continue buying bonds forever
  • likely to stop buying bonds sometime next year
  • says has learned not to forecast AUD, not counting on the currency to drive the recovery
  • huge amount of inertia in the Australian wages system
  • need to see the unemployment rate in 4s to get wages higher
  • inflation temporarily above 3% would not be a problem