“A step back from buying bonds does not represent a withdrawal of support from the Reserve Bank of Australia (RBA), “Central Bank Governor Phillip Lowe said while speaking on the labor market and monetary policy at a webinar organized by the Economic Society of Australia on Thursday.
Additional comments
“The condition for the rate increase depends on the inflation results, not the date.”
“Hopefully it will take until 2024 for inflation to remain sustainably within the 2-3% range. “
“It is likely that wage growth has to exceed 3% to obtain inflation in the target range. “
“Unemployment will have to stay low to be considered full employment.”
“The recovery in the Australian job market this year has been remarkable.”
“Positive surprises in employment do not coincide with equivalent surprises in wages and prices.”
“Most of companies maintain a strong focus on cost control, instead of increasing wages. “
“The plausible scenario is that the borders will gradually open over the next period.”
“A prolonged closure of the borders could increase wage pressures even more in some sectors.”
“I am watching the Sydney shutdown carefully, but the economy is expected to recover quickly once again.”
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