
He said Dr Lowe's statement "effectively says that a stronger Australian dollar amounts to a de facto monetary policy tightening which threatens the RBA's growth forecasts".
He said Dr Lowe's reference to higher commodity prices against the backdrop of expected weaker terms of trade also indicated the RBA was unconvinced a recent bounce in commodity prices was sustainable. It would also cause the progress in economic activity and inflation to be slower than predicted.
'The higher exchange rate is expected to contribute to subdued price pressures in the economy.
The Reserve Bank of Australia has unveiled its decision on interest rates following its monthly board meeting.
Since the start of this year the Australian dollar is up almost 5% against the USA dollar - largely, the RBA noted, a result of weakness in the U.S. currency. Investors in residential property are facing higher interest rates.
"With headline inflation tracking slightly below the 2 to 3 per cent target range, labour markets tightening and the economy continuing to grow, albeit at a pace below trend, the chances of a rate cut appear to have diminished", he said.
Danilo Gallinari Injures Hand, to be Ready for Camp
Gallinari's new teammate, Blake Griffin , missed significant time in 2016 when he punched a Clippers' equipment manager. Gallinari plays for Italy's global team and they're now preparing for Eurobasket .
But HSBC Australia chief economist Paul Bloxham - who is expecting a cash rate hike early in 2018 - disagreed that the currency's strength would stay the RBA's hand.
There had been speculation in the mainstream media that interest rates would need to rise sooner rather than later, particularly as house prices in Sydney, Melbourne and Canberra posted double-digit growth year-on-year, according to the CoreLogic Hedonic Home Value Index. Some pick-up in non-mining business investment is expected.
In his statement, Dr Lowe said that although retail sales had picked up recently, "slow growth in real wages and high levels of household debt are likely to constrain growth in spending". Growth in housing debt has been outpacing the slow growth in household incomes.
They're expected to show continued solid jobs growth in the U.S. with 180,000 new jobs created in July and a fall in the unemployment rate, coupled with subdued wages growth. In some other markets, prices are declining. A factor working in the other direction is increased competition from new entrants in the retail industry.
RBC capital markets are bullish the Aussie versus the Pound as, "Absent any shift in rate expectations, our default position remains to buy dips in AUD as the outright yield continues to draw in investors while volatility and global yields remain historically low".
The RBA also remained fairly neutral in its outlook for future growth as it said "forecasts for the Australian economy are largely unchanged", which would suggest that the bank's quarterly Statement on Monetary Policy (SoMP) on Friday will not deviate greatly from the RBA previous forecast of 3% annual growth.
Philippine police says crackdown targeting more drug lords
During the raid, the police discovered high-powered firearms, explosive devices, huge sums of money and illegal drugs. The deaths came after President Rodrigo Duterte tagged them as politicians involved in the illegal drug trades .
Radeon RX Vega is AMD's return to high-end GPUs
The WX 9100 has 16 GB of 945 MHz HBM2 ECC memory on the same package as the GPU core, providing up to 484 GB/s of bandwidth. Vega will come in a number of different variants including the vega 64 and 56 which will be released later this month.
LG V30 will go on sale from September 28 in the US
Similar to the V10, a second, supplemental display is located at the top of the device to the right of the front-facing camera. Now, with the LG V30 , according to rumours we can expect a crisper OLED display instead of its traditional LCD displays.
US Slaps Sanctions on Venezuelan President Maduro
He said Sunday's vote gave Maduro "less legitimacy, less credibility, less popular support and less ability to govern". Maduro is the fourth head of state sanctioned by the U.S.
Google Voice 5.3 update brings Multi-select messages and more
In short it means that there were 5 billion active Android devices at some point of time. It will be showcased under a special section on the " Play Store ".
Varied Analyst Comments On AK Steel Holding Corporation (AKS), Achaogen, Inc. (AKAO)
Raymond James Financial Services Advisors Inc. raised its position in AK Steel Holding Corporation by 20.9% in the fourth quarter. Following the completion of the purchase, the director now directly owns 21,872 shares in the company, valued at $436,127.68.
At least 6 hurt after van hits crowd in LA
A fire department spokesperson says four people have been taken to a hospital and two others were treated at the scene. KTLA-TV reports that a 44-year-old man was rushed by first responders to hospital in a critical condition.
Kathy Griffin Shaves Her Head To Support Sister Fighting Cancer
On Friday, she tweeted that she's "no longer under federal investigation" and that she has been "completely exonerated". Kathy shaved her head to show support for her sister, Joyce , who is battling cancer , the Daily Mail reported.
Real Madrid's Cristiano Ronaldo appears in court on tax fraud charges
Mourinho, now coach of Manchester United, has yet to be summoned for questioning and through his agent has denied any wrongdoing . They have both paid additional fines in exchange for their 21-month jail sentences to be suspended.
Days before Doval's Beijing visit Chinese troops transgress in Uttarkhand
The standoff at Doklam was staged by China at the request of Pakistan to divert India's attention to unnecessary matters. ITBP men dressed in civil dress accompany revenue officials who go to this area for official purposes.
Qatar accuses Saudi Arabia of 'politicising' Hajj over pilgrim restrictions The four states have cut air and sea links with Qatar and sanctioned dozens of groups and individuals. They were created amid signs of easing of the Gulf standoff following the visit to the region by U.S.
Wisconsin governor defends $3 bln deal for Foxconn plant
Foxconn was exploring investments in seven states including Illinois, Indiana, Michigan, Ohio, Pennsylvania and Texas. Walker said he would convene a special session of the Wisconsin Legislature to address the Foxconn incentive package .
US, Overseas Airlines Enhance Foreign Airport Security
As of today, the ban has been removed in full for all ten airports and nine airlines included in the original travel restriction . And Secretary Kelly says terror organizations will continue to try to beat any new security measures that are put in place.
Vikings finalizing 5-year deal with Xavier Rhodes
The new contract includes $41 million guaranteed and pays more than $42 million over the first three years , according to ESPN. The Vikings are also discussing contract extensions with defensive tackle Linval Joseph and linebacker Anthony Barr.
India Vs Sri Lanka 1st Test Day 3rd Since there's a lot of time remaining for the action, the players of Team India made a decision to blow some steam off. Debutant Danushka Gunathilaka was out for two, hitting Umesh Yadav straight to Cheteshwar Pujara at square leg.