RBA’s Lowe: More likely next move in rates is up rather than down

The Reserve Bank of Australia (RBA) Governor Phillip Lowe is on the wires now, via Reuters, making a scheduled speech about the recent developments in the Australian and global economy at the Australian Business Economists Annual Dinner, in Sydney.

Key Headlines:

No strong case for near-term change in interest rates.

More likely next move in rates is up rather than down.

Weakening case for lower rates as the economy picks up.

Board paying more attention to weak growth in wages, household incomes.

Increased retail competition likely to restrain inflation for the moment.

Has seen some cooling in the Sydney housing market.

The Aussie turns positive and prints daily tops at 0.7558 on Lowe’s hawkish remarks.