FXStreet (Bali) – Following RBA Stevens comments on monetary policy, noting that if policy were to change, it would almost certainly be an easing, below are the rest of headlines hitting the wires, via Reuters.
Key Quotes
Economic rebalancing is occuring, aided by monetary policy
Non-mining sectors generating respectable growth in employment
Monetary policy very accommodative, likely to stay that way for some time
If policy were to change, it would almost certainly be an easing
Inflation is clearly no impediment to easing
Housing market may be calming, too early to be sure
Macroeconomic effect of banks raising mortage rates “may not be large”
Significant share of households ahead on mortgage payments
Mortgage rises so far equal to about one half of 25 bps cut
Will keep changes in mortgage rates under “careful review”
Roughly half way through period of declining mining investment
Says business conditions outside of mining have been slowly improving
Some encouraging developments on infrastructure investment
Long period of discipline on budget spending likely to be needed
(Market News Provided by FXstreet)