Reserve Bank of Australia Governor Bullock says she expects Q1 GDP growth to be lowReserve Bank of Australia Governor Bullock reading the writing on the wall for economic growth in Australia:
Reserve Bank of Australia Governor Bullock and Assistant Governor (Financial Markets) Kent appearing before the Australian parliament
before the Senate Economics Legislation Committee
Bullock:
- expect Q1 GDP growth to be quite low
- economy is weak, that is showing up in consumption
- looking for a soft landing for the economy
- underlying inflation is coming down, but only slowly
If by underlying she means core, that's rising. The latest monthly reading:
Trimmed mean: 4.1% y/y
More:
- demand still exceeds the economy's capacity to supply
Ugh ... demand > supply means inflation pressure
More:
- Not ruling anything in or out on policy
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: Reserve Bank of Australia Governor Bullock says she expects Q1 GDP growth to be low (https://www.forexlive.com/centralbank/reserve-bank-of-australia-governor-bullock-says-she-expects-q1-gdp-growth-to-be-low-20240604/)
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