RBA's Lowe: Next move in interest rates likely to be up, not down

RBA Governor Philip Lowe, speaking at the central bank's board dinner in Perth, was noted saying that the next rate move is likely to be up, not down, though any move in cash rate still seems some way off.

Additional quotes:

   •  Board’s assessment was the Australian economy is moving in the right direction. 
   •  An escalation in global trade disputes would be a concern.
   •  The average mortgage rate is still lower than last year despite recent rises by some banks.
   •  Fall in the Aussie, if sustained, would improve the outlook for growth, inflation.
   •  Sees risk of a faster pick-up in the US inflation, may present a shock to financial markets. 
   •  Watching strains in EM, impact on the global financial system.