Lowe: no strong case to raise interest in the near term

Philip Lowe, Governor of the Reserve Bank of Australia, made the following statement:
•    The next step is likely to be rates hike.
•    The weakest case is to cut interest rates as the economy recovers.
•    The Reserve Bank of Australia pays more attention to weak wage growth and household income.
•    Increasing competition in the retail sector would rein in inflation at the current moment.
•    Some calmness has been observed in Sydney's housing market.