Philip Lowe's "4 points"

Philip Lowe's "4 points"

During a speech on 19 June the Reserve Bank of Australia governor, Philip Lowe, stated four points in relation to where he believes future growth in Australia will come [emphasis in the original]: For a while, growth can come from a cyclical upswing in the global economy.At some point, the cyclical upswing will run its course. Beyond that, much depends upon demographics and technology. Here there are reasons for pessimism and for optimism.In Australia, it is likely that growth over the next couple of years will be a bit stronger than it has been recently.Australia's longer-term prospects remain positive, but we need to keep working to keep them that way.Lowe, a career bureaucrat and disciple of Keynes, then elaborated:…

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