Reserve Bank of Australia (RBA) governor, Philip Lowe, has told an International Monetary Fund meeting in Washington that the Australian economy appears to be on track to return to its trend growth rate in 2020, which should put downward pressure on the unemployment rate and gradually boost wages. From The Australian:
“I don’t think it’s the right assumption to make that we’re going to have a lot more work to do to get inflation back to target and growth back to trend,” Dr Lowe said.
“I think it’s quite probable that we’ll see a return to trend growth over the next year, which will be good.
