Guy Debelle: The state of the economy

Speech by Mr Guy Debelle, Deputy Governor of the Reserve Bank of Australia, at the American Chamber of Commerce in Australia (AmCham) Business Luncheon, Adelaide, 10 April 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
10 April 2019

Thank you very much to AmCham for giving me the opportunity to speak in my home town of Adelaide.

Today I am going to discuss the Bank's assessment of the current economic situation both in the world and in the Australian economy. I will also talk about some of the key uncertainties about the future economic path. In particular I will highlight the tension between labour market data and output data not only here in Australia but also in a number of economies around the world. How that tension resolves in the period ahead will be an important determinant of the future path of monetary policy.

The Global Economy

I will start with the global economy. It is important to remember that the Australian economy and financial conditions are significantly influenced by global developments.