More from the RBA shadow today:
Amid record employment growth, a non-farm economy expanding at 3.6 per cent a year, a state-based infrastructure spending boom, and a federal budget returning to surplus, Monash University economist Mark Crosby and Sydney University’s James Morley said there was growing scope for a more “normal” Reserve Bank cash rate.
…There is “plenty going on to support the economy – and I can’t see that going away,” said Dr Crosby, who sits with Professor Morley on a so-called “shadow board” of experts hosted by the ANU that critiques monthly Reserve Bank policy decisions.
