RBA minutes: jobs data positive, provided further confirmation of improvement in labour market

Market news

18 July 2017

RBA minutes: jobs data positive, provided further confirmation of improvement in labour market

Data suggest gdp growth increased in q2, household consumption picked up
Underemployment still elevated, wage pressures subdued
Recent rise in employment to support household incomes, spending
Fiscal policy to be more expansionary in 2017/18 than previously expected
Too early for tighter lending rules to have full effect on housing market
Stronger infrastructure spending to have significant positive spillovers to economy
Repeats a rising AUD would complicate economic rebalancing

Republican Sen. Mike Lee and Jerry Moran announce opposition to health care bill, dealing blow to GOP hopes @AP

Powerful 7.4-magnitude earthquake strikes the Bering Sea between American and Russian islands; no tsunami threat - USGS

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