RBA’s Lowe: Expect GDP growth of 3% in 2017 and 2018

More headlines crossing the wires from RBA governor Lowe’s speech delivered at a dinner event in Sydney.

Key Headlines:

Expects GDP growth of 3% in 2017 and 2018

GDP contraction last year was temporary

Higher terms of trade, sharp ramp up in LNG exports to support growth

Estimates drag on economy from falling mining investment is about 90% finished

Investment lending for housing has picked up

Australia has benefitted greatly from free trade globally, would suffer if that reversed

Full speech here