May RBA Minutes point to weakness in housing market

housing market

May’s RBA¬†board meeting minutes outline the rationale behind their 50bp reduction of the cash rate. The minutes note that the domestic economy had been growing at a modest rate in early 2012 however, the activity varied across industries. The mining sector remains strong with a number of large projects underway and on the drawing board.…

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RBA Commentary on the Investment Boom in the Resources Sector

Investment Boom

In his speech today to the Committee for Economic Development of Australia, RBA Deputy Governor Philip Lowe gave some interesting commentary on recent developments within the Australian economy. Specifically interesting were his comments regarding the indirect effects of the investment boom in the resource sector:

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