Australia: Treasurer Scott Morrison opposed further RBA cuts - TDS

Research Team at TDS, suggests that there was no regional data out today from Australia, but the Australian Financial Review’s lead article, stated the Australian Treasurer Scott Morrison opposed further RBA cuts, instead pointing to the Turnbull government policies needing to take greater prominence to ’boost incomes and living standards’.

Key Quotes

“While such strong comments by a Treasurer are unusual (and he ultimately said the decision on rates is for the RBA) these comments follow those made last week by UK PM Theresa May that ’change has got to come’  and  by Mark Carney, the BoE Governor that "Monetary policy has been over burdened. We need a better balance monetary policy, fiscal policy and structural policy" . The Australian Treasurer's comments were made in Washington where he met US Fed Chair Yellen, the PBoC’s Zhou Ziaochuan and BoE Gov Carney.”