FOREX TradingCharts.com

Financial News: RBA's Lowe Expects Australia's Economic Growth To Pick

RBA's Lowe Expects Australia's Economic Growth To Pick Up

09/24/2019 - 08:13:00 (RTTNews)

(RTTNews) - Reserve Bank of Australia Governor Philip Lowe said the economic growth is set to pick up, but a strong expansion is not expected in the near term.

The economy has reached a gentle turning point after having been through a soft patch, he told the Armidale Business Chamber on Tuesday.

GDP growth over the first half of this year was stronger than in the second half of 2018. "We are expecting a further modest pick-up in the quarters ahead," said Lowe.

However, Lowe noted that the main source of domestic uncertainty continues to be the strength of household spending.

According to Lowe, tax refunds will boost household income by 0.6 percent this year. Half of this refund is likely to be spent over the coming quarters. Disposable income is also being underpinned by lower interest rates, he observed.

The governor added that the fundamental factors underpinning the longer-term outlook for the Australian economy remain strong.

Regarding the outlook for investment, Lowe said he does not see the same spike in the measure of policy uncertainty in Australia. However, there has been some softening in measures of business conditions.

The RBA lowered its interest rate in June and July to make more assured progress towards full employment and the inflation target, Lowe said. "Further monetary easing may well be required," he said.

"At our Board meeting next week, we will again take stock of the evidence," he added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Sweden September Jobless Rate Climbs (01 hr(s), 43 min(s), 19 sec(s) ago)
(RTTNews) - Sweden's jobless rate rose marginally in September amid the first increase in yout ...Full Story»

China Car Sales Drop For 15 Months (02 hr(s), 38 min(s), 19 sec(s) ago)
(RTTNews) - China's car sales fell for the fifteenth consecutive month in September, figures f ...Full Story»

Slovakia Inflation Rises In September (03 hr(s), 28 min(s), 19 sec(s) ago)
(RTTNews) - Slovakia's consumer price inflation rose marginally in September after slowing in ...Full Story»

India Inflation Rises In September (03 hr(s), 49 min(s), 19 sec(s) ago)
(RTTNews) - India's consumer price inflation increased moderately in September, data from the ...Full Story»

German Economy Unlikely To See Strong Downturn (04 hr(s), 09 min(s), 19 sec(s) ago)
(RTTNews) - The German economy is unlikely to log a strong downturn, the economy ministry reported ...Full Story»

Hungary Industrial Production Growth Slows In August (04 hr(s), 30 min(s), 19 sec(s) ago)
(RTTNews) - Hungary's industrial production grew at a slower rate in August, final data from t ...Full Story»

Turkey Industrial Production Falls In August (04 hr(s), 40 min(s), 19 sec(s) ago)
(RTTNews) - Turkey industrial production declined in August, data from the Turkish Statistical Ins ...Full Story»

Finland Inflation Slows In September (04 hr(s), 46 min(s), 19 sec(s) ago)
(RTTNews) - Finland consume price inflation slowed in September after rising in the previous month ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Sweden September Jobless Rate Climbs

10/14/2019 - 10:33 AM (RTTNews)
(RTTNews) - Sweden's jobless rate rose marginally in September amid the first increase in yout ...Full Story>>

China Car Sales Drop For 15 Months

10/14/2019 - 09:38 AM (RTTNews)
(RTTNews) - China's car sales fell for the fifteenth consecutive month in September, figures f ...Full Story>>

Slovakia Inflation Rises In September

10/14/2019 - 08:48 AM (RTTNews)
(RTTNews) - Slovakia's consumer price inflation rose marginally in September after slowing in ...Full Story>>

India Inflation Rises In September

10/14/2019 - 08:27 AM (RTTNews)
(RTTNews) - India's consumer price inflation increased moderately in September, data from the ...Full Story>>

German Economy Unlikely To See Strong Downturn

10/14/2019 - 08:07 AM (RTTNews)
(RTTNews) - The German economy is unlikely to log a strong downturn, the economy ministry reported ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.