Weekend Economist: Credit comeback

Recent data provide new hope that growth momentum will shift from mining towards non-mining investment and consumer spending.

The Reserve Bank Board meets next week. There is no chance of a rate move and, I expect, little chance that the two key themes of recent statements by the governor will change.

These are: "On present indications the most prudent course is likely to be a period of stability in interest rates”; and “the Australian dollar remains above most estimates of its fundamental value.”

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