RBA Stevens: No comment on the outlook for the cash rate

By FXStreet Reserve Bank of Australia Governor Glenn Stevens, appearing before the House of Representatives’ Standing Committee on Economics, is still makign comments on the economy and monetary policy, noting that he sees no evidence that funding markets impaired for Australian banks, adding that exposure of Australian banks to energy sector just few points of balance sheet, quite small.

Additional headlines

Says his instinct is that some of the global gloom is overdone, speculation of global recession is too pessimistic

Stevens says he has no comment on the outlook for the cash rate

No comment on cash rate outlook. Strange. Can someone please lend Glenn a coin to toss so he can formulate a view.

Some reservations about labour market data

Employment growth strong even after accounting for problems with data

Hard to avoid the conclusion that the jobs market is better than expected

Does not see rout in Australian property market – breather in prices welcome in Melbourne and Sydney property markets
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Source:: FX Street