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 care …