If you’re waiting for another rate cut, read this first
The lower speed limit means the economy cannot afford as much income growth for people, and that living standards will increase by less than in the past.
If you want to understand why the Reserve Bank of Australia won’t be cutting interest rates any time soon, if at all, then scripted remarks this week by deputy governor Andrew Hauser are compulsory reading.
Hauser didn’t actually deliver a scheduled speech because he was feeling unwell. But the RBA published his planned speech, and he answered questions at the UBS conference in Sydney on Monday.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
