‘’We should, though, be capable of stronger growth than we have seen over the past few years. But we can’t take this for granted. It is important that we have a sharp focus on the reforms that can make a real difference to our living standards. If we don’t do this, we will fall behind. The positive news is that there is no shortage of good ideas here. The not-so-positive news is that there is a shortage of good ideas that can successfully navigate the political process.’’ That a failure to deliver economic reform might cause some problems is no surprise. But for Lowe to use a short speech to land the point in Canberra underlines the chasm between the need for changes and the ability of politicians to deliver it any time soon.
From Australia, tomorrow, RBA Monetary Policy Meeting Minutes will bring some volatility in a morning part of the session. There will be no data releases from the USA.
Figures to watch:
RBA Monetary Policy Meeting Minutes (Tuesday 3:30)
