Expecting return to string growth next year.
The economy has bounced back faster.
RESERVE BANK OF AUSTRALIA GOV LOWE SAYS ECONOMY HAS BOUNCED QUICKER THAN FORECAST
05-Aug-2021 17:33:29 – RBA GOV LOWE: THE LABOUR MARKET RECOVERY HAS BEEN MOST REMARKABLE
05-Aug-2021 17:33:50 – RBA GOV LOWE: RECOVERY HAS BEEN INTERRUPTED BY OUTBREAKS OF THE HIGHLY INFECTIOUS DELTA STRAIN OF THE CORONAVIRUS, ESPECIALLY IN NEW SOUTH WALES
05-Aug-2021 17:33:52 – RBA GOV LOWE SAYS AT THE BOARD’S MEETING EARLIER THIS WEEK WE CONSIDERED THE CASE FOR DELAYING THIS TAPERING TO $4 BILLION A WEEK
05-Aug-2021 17:34:00 – RBA GOV LOWE: GDP IS LIKELY TO DECLINE IN THE SEPTEMBER QUARTER
05-Aug-2021 17:34:06 – RBA GOV LOWE SAYS WE ARE EXPECTING A RETURN TO STRONG GROWTH NEXT YEAR.
05-Aug-2021 17:34:18 – RBA GOV LOWE: HOW LARGE THE DECLINE WILL BE DEPENDS ON THE DURATION OF THE LOCKDOWNS AND WHETHER THERE ARE FURTHER MATERIAL OUTBREAKS ELSEWHERE IN AUSTRALIA IN THE WEEKS AHEAD
05-Aug-2021 17:34:19 – RBA GOV LOWE SAYS ANY ADDITIONAL BOND PURCHASES WOULD HAVE THEIR MAXIMUM EFFECT AT THAT TIME AND ONLY A VERY SMALL EFFECT RIGHT NOW WHEN THE EXTRA SUPPORT IS NEEDED MOST.
05-Aug-2021 17:34:29 – RBA GOV LOWE SAYS BOARD ALSO RECOGNISED THAT FISCAL POLICY IS THE MORE APPROPRIATE INSTRUMENT FOR PROVIDING SUPPORT I
05-Aug-2021 17:34:33 – RBA GOV LOWE: HOUSEHOLD CONSUMPTION IN AREAS THAT ARE LOCKED DOWN IS TYPICALLY AROUND 15 PER CENT LOWER THAN IT WOULD BE OTHERWISE
05-Aug-2021 17:34:44 – RBA GOV LOWE: SOME INCREASE IN THE UNEMPLOYMENT RATE IS ALSO EXPECTED OVER THE MONTHS AHEAD
05-Aug-2021 17:34:47 – RBA GOV LOWE SAYS WE WILL, HOWEVER, KEEP THE SITUATION UNDER REVIEW AND ARE PREPARED TO ACT IN RESPONSE TO FURTHER BAD NEWS ON THE HEALTH FRONT
05-Aug-2021 17:34:58 – RBA GOV LOWE SAYS THE BOARD WILL NOT BE INCREASING THE CASH RATE UNTIL INFLATION IS SUSTAINABLY IN THE 2 TO 3 PER CENT RANGE
05-Aug-2021 17:35:00 – RBA GOV LOWE: SIGNIFICANT PARTS OF THE AUSTRALIAN ECONOMY ARE STILL ON THE POSITIVE TRAJECTORY THAT WAS IN PLACE BEFORE THE RECENT OUTBREAKS
05-Aug-2021 17:35:09 – RBA GOV LOWE SAYS UNDER THE CENTRAL SCENARIO, THE CONDITION WE HAVE SET FOR AN INCREASE IN THE CASH RATE IS NOT EXPECTED TO BE MET BEFORE 2024
05-Aug-2021 17:35:38 – RBA GOV LOWE: OUR CENTRAL SCENARIO IS THAT THE ECONOMY WILL RETURN TO STRONG GROWTH IN 2022
05-Aug-2021 17:36:04 – RBA GOV LOWE: CENTRAL SCENARIO SEES GDP INCREASING BY A LITTLE OVER 4 PER CENT IN 2022, TO BE FOLLOWED BY GROWTH OF AROUND 2½ PER CENT IN 2023
05-Aug-2021 17:36:21 – RBA GOV LOWE: ONE SOURCE OF UNCERTAINTY IS THE POSSIBILITY OF VACCINE-RESISTANT VIRUS STRAINS EMERGING OVER TIME
05-Aug-2021 17:36:45 – RBA GOV LOWE: ANOTHER SOURCE OF UNCERTAINTY IS THAT IT IS STILL UNCLEAR WHAT TYPE OF ADJUSTMENTS OUR SOCIETY WILL HAVE TO MAKE TO LIVE WITH COVID ON AN ONGOING BASIS
05-Aug-2021 17:37:07 – RBA GOV LOWE: IT IS POSSIBLE THE AUSTRALIAN ECONOMY WILL AGAIN EXPERIENCE A RUN OF POSITIVE SURPRISES, AS IT DID EARLIER THIS YEAR
05-Aug-2021 17:37:21 – RBA GOV LOWE: IF WE ARE SUCCESSFUL IN CONTAINING THE VIRUS OVER THE MONTHS AHEAD, IT IS POSSIBLE THERE WILL BE STRONGER UPSWINGS IN BOTH INVESTMENT AND CONSUMPTION
05-Aug-2021 17:37:39 – RBA GOV LOWE: IT WILL TAKE SOME TIME FOR INFLATION TO BE SUSTAINABLY IN THE 2 TO 3 PER CENT TARGET RANGE
05-Aug-2021 17:38:37 – RBA GOV LOWE: IN OUR CENTRAL SCENARIO, BOTH WAGES GROWTH AND UNDERLYING INFLATION PICK UP, BUT DO SO ONLY GRADUALLY
05-Aug-2021 17:38:50 – RBA GOV LOWE: THE CENTRAL FORECAST IS FOR UNDERLYING INFLATION TO BE 1¾ PER CENT OVER 2022 AND THEN 2¼ PER CENT OVER 2023
05-Aug-2021 17:39:07 – RBA GOV LOWE: GROWTH IN THE WAGE PRICE INDEX IS EXPECTED TO PICK UP GRADUALLY TO 2¾ PER CENT OVER 2023
05-Aug-2021 17:40:25 – RBA GOV LOWE: EIGHTEEN MONTHS ON, THERE ARE NOW PLAUSIBLE SCENARIOS IN WHICH THE CASH RATE IS INCREASED OVER A 3-YEAR HORIZON, WHICH NOW RUNS UNTIL LATE 2024
05-Aug-2021 17:40:35 – RBA GOV LOWE: GIVEN THIS SHIFT, THE BOARD DECIDED THAT IT WAS NOT APPROPRIATE TO EXTEND THE YIELD TARGET TO THE END OF 2024
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