- Q4 CPI will not "look too good," but expects inflation to moderate over the medium term.
- Economic growth is below trend, but does not expect a hard landing for the Aussie economy.
- Sees no reason to revise August growth forecasts, assumes "weakish" global growth will continue.
- The rate hikes in the early part of the year were needed to slow demand. If scope for cuts increases, will act accordingly.
- Cannot pre-commit to easing, has no agenda on rates. Assesses rates month by month.
- Notes that tight financial conditions are important in the demand slowdown. Households have been much more cautious on spending, borrowing. Oil prices have hit consumer demand.
- Notes a marked reduction in Australian business credit growth. The money market is functioning more smoothly. The resilience of business investment is remarkable.
- The low point of economic growth is still one or two quarters away. Employment indicators consistent with slow growth. Cannot deny there is chance of recession.
- Board to consider further cash rate cuts. Not all tightening in financial markets needs to be unwound.
- Falling AUD won't derail inflation fight.
- Terms of trade may have peaked.
- Australian bank loan arrears still low.
- RBA's Edey: Terms of trade to fall 5% in coming year.
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