Monetary easing abroad puts upward pressure on AUD – RBA’s Lowe

By FXStreet Reserve Bank of Australia’s (RBA) Deputy Governor Philip Lowe crossed the wires today via Reuters, commenting on the economic outlook and exchange rate level.

Key Quotes:

Low inflation provides scope for easing if needed

Will be important for economy to keep up with growth in labour force

Signs economy successfully rebalancing, even if not returning to pre-2008 growth rates

Economic growth bit stronger than expected over 2015, kept unemployment steady

GDP report confirmed household spending had picked up

Central scenario still for GDP growth a bit below trend in 2016, then quickening

Rising home supply helping moderate prices, still watching very closely

Monetary easing abroad a “complication” as it puts upward pressure on AUD

Past fall in A$ helping tourism, education, agriculture

Looking around world most every Central Bank would like a lower currency

Global economy still has momentum, though data mixed

Growth this yr will likely bit below trend;2.5% to 3%

China going through difficult transition

Watching what international developments mean for us

Recent intl data do not suggest global econ momentum lost
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Source:: FX Street