Reserve Bank of Australia (RBA) Luci Ellis, Assistant Governor (Economic), said that the board remains committed to "maintaining highly supporting monetary conditions", in her scheduled speech at the Ai Group Business Lunch on Wednesday.
Additional quotes
Aim of policy settings is to support a return to full employment and inflation consistent with target.
Absorbing spare capacity and achieving full employment is an important national priority.
Australia's recovery exceeded all expectations even before vaccine rollout.
Much of unexpected strength of recovery stems from Australia’s relatively good health outcomes.
Border closure has posed challenges in some parts of economy but not materially impeded recovery.
Hard to know how long global supply chain bottlenecks will last.
Both individual, business sectors are entering the expansion phase with stronger balance sheets than before the pandemic.
Uncertainty remains over occupancy of office, retail spaces in the long-run.
Many planned projects have been put on hold; some might end up being cancelled.
Not seen large-scale changes in how firms work in supply networks, including in Australia.
Market reaction
AUD/USD ignores the dovish comments from the RBA official, trading pressured below 0.7550 heading into the European open.
At the time of writing, the aussie drops 0.13% on the day, trading at 0.7541.
