Responding to the Q&A at the Anika Foundation Fundraiser, the Reserve Bank of Australia (RBA) Governor Philip Lowe stated that he is hopeful that they can navigate the slim route to a gentle landing.
Additional comments
Demand has to develop greater slowly to deliver returns in line with supply.
There is a massive demand issue to greater inflation, now not simply supply.
Very conscious there are lags in financial policy.
Very feasible wage boom no longer choose up plenty further.
Quantitative tightening is no longer on our agenda.
Has no plans to resign.
Market reaction
In an instant response to the above comments, AUD/USD is checking out everyday lows close to 0.6715, dropping 0.72% on the day.