RBA’s Hunter: Housing market crucial transition channel for monetary policy
Reserve Bank of Australia (RBA) Assistant Governor Hunter said on Tuesday that the housing market is an important transition mechanism for monetary policy. Hunter added that the central bank is looking to cool things off in both the housing market and the broader economy.
Key quotes
Housing market crucial transition channel for monetary policy.
Effect of house price changes on consumer spending actually quite small.
Don’t anticipate recession in economy.
We want to see a weaker economy relative to trend.
Aiming to cool down housing market, economy.
Monitoring Bathla situation, no systemic risk seen.
Board has been clear inflation is top priority.
July CPI data represented just one month.
Board worried about inflation, has low tolerance.
Board may need to hike rates if inflation looks set to intensify.
Market reaction
At the time of writing, the AUD/USD pair is down 0.04% on the day at 0.7215.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Apple Rarely Signs 3-5 Year NAND Long-Term Contracts, May Not Set Price Cap; AI Squeezes Capacity, Shifting Bargaining Power in Storage
Apple is negotiating a 3-5 year long-term NAND flash memory contract with Kioxia, potentially without a price cap. This marks a shift in its procurement strategy from "lower prices and multiple sources" to "volume lock-in and long-term contracts." The change is driven by fierce competition among AI data center clients for storage capacity, forcing Apple to prioritize supply security. Pricing power for storage chips is shifting from buyers to sellers, and the duration of this storage cycle may exceed traditional market expectations.
India Gold price today: Gold rises, according to FXStreet data
The US dollar briefly rebounded to 153.5 against the Japanese yen, down 1.7% in 24 hours.
Crypto prices
More
