RBA’s Kent: next rate move likely to be up

The next move in interest rates is more likely up the down, though it is some way off, Reserve Bank of Australia’s (RBA) Kent said while speaking at a Bloomberg ever earlier today. 

Key quotes

• Says next rate move is likely to be up but does not rule out a cut if its needed.
• Progress is being made on lowering unemployment and rising inflation, but its gradual.
• Wage growth in Australia is beginning to pick up. 
• It's puzzling why consumption so weak.
• Risk that credit supply tightens unnecessarily