RBA’s Lowe: Q3 CPI report suggested inflation was not moving lower

The Reserve Bank of Australia (RBA) Governor Philip Lowe crossed the wires last minutes, via Reuters, making a scheduled speech at the Committee for Economic Development of Australia Annual Dinner, in Melbourne.

Key Headlines:

Central scenario for Australian economy remains positive

Reasonable prospect inflation will return to average levels in next 2 years

Q3 CPI report suggested inflation was not moving lower

High household debt a risk, important to avoid financial imbalances

Not in public interest to encourage further build-up of household debt

Budget repair can be undertaken over time, should not stop infrastructure