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- Reserve Bank of Australia Gov Lowe: interest rate outlook is more evenly balanced
Reserve Bank of Australia Gov Lowe: interest rate outlook is more evenly balanced
lower rates might be appropriate if unemployment rises, inflation stalls
probabilities on next rate move "appear to be more evenly balanced"
there are scenarios where the next move in rates is up, others where it is down
board does not see strong case for a near-term change in cash rate
will be monitoring developments in labour market closely
if jobs and wages rising, will be appropriate to raise cash rate at some stage
lower rates might be appropriate if unemployment rises, inflation stalls
in position to maintain current policy while assessing shifts in global economy, household spending
downside risks to domestic economy have increased
household consumption expected to grow around 2.75 pct over next couple of years
still expect economy to grow at reasonable pace over next couple of years
sees economy expanding by around 3 pct in 2019, 2.75 pct over 2020
expects Q4 GDP to be stronger than surprisingly soft Q3 outcome
unemployment declining to around 4.75 pct over the next two years
underlying inflation to rise to about 2 pct later this year, 2.25 pct by end of 2020
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