Reserve Bank of Australia’s (RBA) Deputy Governor Philip Lowe crossed the wires today via Reuters, commenting on the economic outlook and exchange rate level.
Key Quotes:
Low inflation provides scope for easing if needed
Will be important for economy to keep up with growth in labour force
Signs economy successfully rebalancing, even if not returning to pre-2008 growth rates
Economic growth bit stronger than expected over 2015, kept unemployment steady
GDP report confirmed household spending had picked up
Central scenario still for GDP growth a bit below trend in 2016, then quickening
Rising home supply helping moderate prices, still watching very closely
Monetary easing abroad a “complication” as it puts upward pressure on AUD
Past fall in A$ helping tourism, education, agriculture
Looking around world most every Central Bank would like a lower currency
Global economy still has momentum, though data mixed
Growth this yr will likely bit below trend;2.5% to 3%
China going through difficult transition
Watching what international developments mean for us
Recent intl data do not suggest global econ momentum lost
(Market News Provided by FXstreet)
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