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Australian Reserve Bank hints at further tightening
Australian Central Bank Deputy Governor Sarah Hunter said the bank aims to calm the housing market and economic growth, seeking to keep economic growth at a level below its usual pace but without pushing it into recession.
Hunter explained that the housing market is an important channel for transmitting the effects of monetary policy to the broader economy. However, she noted that the impact of changes in house prices on consumer spending is relatively limited, suggesting that the bank does not rely heavily on wealth effects from rising or falling property prices to curb consumption.
She said the bank does not expect the economy to enter a recession, despite wanting to see more moderate growth than the general trend. These remarks reflect the bank’s continued approach of slowing economic activity in a measured way to curb inflationary pressures, rather than aiming for a sharp slowdown.
$XAU
$GOOGL.US
Australian Reserve Bank hints at further tightening
Australian Central Bank Deputy Governor Sarah Hunter said the bank aims to calm the housing market and economic growth, seeking to keep economic growth at a level below its usual pace but without pushing it into recession.
Hunter explained that the housing market is an important channel for transmitting the effects of monetary policy to the broader economy. However, she noted that the impact of changes in house prices on consumer spending is relatively limited, suggesting that the bank does not rely heavily on wealth effects from rising or falling property prices to curb consumption.
She said the bank does not expect the economy to enter a recession, despite wanting to see more moderate growth than the general trend. These remarks reflect the bank’s continued approach of slowing economic activity in a measured way to curb inflationary pressures, rather than aiming for a sharp slowdown.
