RBA’s Lowe: RBA has not sought to overly fine tune monetary policy

More comments crossing the wires from the RBA Chief Lowe, as he continues to make his speech at a business briefing in Perth.

Main Points:

High house hold debt means consumption will be quite sensitive to higher rates

RBA has not sought to overly fine tune monetary policy

Oz economy improving but clearly there are risks

Monetary policy has important role in supporting economy through transition

Need stronger productivity to lift real per capita incomes

Period of global monetary expansion now drawing to a close

Oz currently on course to lower unemployment, lift inflation to middle of target range

Retreat in US leadership on open markets would complicate outlook