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‘Plenty of evidence that you wouldn't want to rush’ Raising rates

The Australian Press reporting overnight comments from the RBA's monetary policy board member Ian Harper, expressing his take on the economic and interest rates outlook.


Key Points:


RBA comfortable holding interest rates steady for now


"We're on target, but to be blunt there is also plenty of evidence that you wouldn't want to rush this (raising rates)"


No reason "to scare the horses at the moment" by signalling coming interest rate increases


No reason to join in the hawkish chorus coming from other central banks


And those other CBs eased policy much further than Australia did


Employment growth "encouraging"


"There is still plenty of underemployment"


Wages weak


Household indebtedness a headwind to recovery


"it is not clear that inflation is rising"


"We are not calling the economy dead. Things are recovering nicely. But it's a case of steady as she goes"


A lower AUD would be beneficial for the economy. "It would help us along our way"

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