-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI RBA Heath: Confident About NonMining Invest Sustainability
--Dwelling Investment No Longer Contributing To Growth
By Sophia Rodrigues
SYDNEY (MNI) - Dwelling investment is no longer contributing to Australia's
growth but non-mining business investment has become a more important driver and
the Reserve Bank of Australia is now more confident about its sustainability,
RBA's head of economic analysis department Alexandra Heath said.
Heath made the comments in a speech at the Urban Development Institute of
Australia event in Wollongong Thursday.
Apart from non-mining investment, the contribution to growth from the
public sector has also increased, Heath said.
The RBA's central forecast is for growth to be above 3% over 2018 and 2019,
and this should lead to a further gradual reduction in spare capacity and a
gradual increase in wage and inflationary pressures, Heath said, reiterating a
view previously expressed by the RBA.
The composition of growth has, however, changed with the drag from falling
mining investment diminished, public sector and non-mining investment making a
contribution and dwelling investment no longer contributing.
Most of the drag from falling mining investment on growth will be done by
early next year, Heath said.
"The contribution to growth from the public sector has also increased. The
other two points I want to highlight are that there has been a significant
pick-up in the contribution of investment by non-mining firms, but that dwelling
investment is no longer contributing to growth," she said.
Heath said that back in 2015 the RBA's discussion of the risks around the
forecasts highlighted the weakness in non-mining business investment but now
they are more confident about a sustainable pick-up.
The rest of Heath's speech focused on developments in the housing market
where she noted that despite easing off, dwelling investment is still expected
to remain at a high level, particularly in New South Wales and Victoria.
She also noted that apart from household formation and population growth,
interest rates and changes in lending standards are the main drivers of housing
demand.
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com
[TOPICS: MMLRB$,M$A$$$,M$L$$$,MT$$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.