Reserve Bank of Australia Governor Bullock says she expects Q1 GDP growth to be low

Reserve Bank of Australia Governor Bullock reads the writing on the wall for Australia's economic growth:

• Australia's very weak economic growth outlook has been cut even further

Reserve Bank of Australia Governor Bullock and Assistant Governor (Financial Markets) Kent appear before the Australian Parliament

• Before the Senate Economic Legislation Committee

Bullock:

• We expect GDP growth in the first quarter to be very low
• The economy is weak, and this shows in consumption
• Searching for a soft landing for the economy
• Core inflation is falling, but only slowly

If it means essence, then it's progressive. Last monthly reading:

Average cut: 4.1% y/y

• Previous: 4.0%

more:

• Demand continues to exceed the economy's ability to supply

Uh…demand > supply means inflation pressure

more:

• We don't judge anything inside or outside politics

This article was written by Eamonn Sheridan at www.forexlive.com.

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