RBA’s Lowe: Lower AUD helping economy in current downswing
By FXStreet FXStreet (Bali) – In a speech by RBA Deputy Governor Philip Lowe, in an address on economic conditions and prospects in the Australian economy, the policy-maker said that flexibility of AUD, labour market & monetary policy is positively assisting the adjustment in the Australian economy.
Headlines via Reuters
Movements in China stock market likely to have only limited impact on overall Chinese economy
On recent yuan depreciation, says not surprising China wanted greater currency flexibility
These developments in China have coincided with signs of further slowing in Chinese economy
China’s handling of stock market crash has led some to ponder general direction of Chinese policy, this bears watching
Notable that increased volatility in equity and commodity markets have not led to dislocation in other markets
We are having to get used to less extraordinary growth in China
Outside of China, economic data have mostly had a slightly more positive tone
At some point before too long, we should hope US economy is strong enough for a Fed hike
On Australia, Q2 GDP data suggest economy is continuing to grow at a similar rate to that of past few years
Most other recent indicators consistent with a moderate expansion in the Australian economy
Should not lose sight Australian economy has considerable ability to …read more
Source:: FX Street
