RBA remains upbeat on the global economy - TDS

RBA Minutes for the June meeting shed little light on new details as overall, RBA remains upbeat on the global economy, states that forward looking labour indicators are positive but low wages growth continue to restrict consumption, notes the analysis team at TDS.

Key Quotes

“The weak Q1 GDP was viewed as transitory and economic growth is still expected to increase gradually. Trends in employment and housing market are still the focus for RBA. The committee also noted that some slowing of housing credit growth to investors has been associated with the latest macroprudential measures, but maintains the full effects will require some time to take place.”