RBA's Lowe: rates are likely to move up, not down

The Reserve Bank of Australia's head Philip Lowe is speaking at an event where he is discussing his outlook on recent developments in the Australian economy.

Key highlights

Next rate move will likely be up, not down.

Continuation of current stance of monetary policy will help economy adjust.

Further progress on unemployment, inflation expected to be only gradual.

It is "reasonable to expect" economic growth this year to be stronger than last year.

Serious escalation of trade tensions would risk health of global economy.

High levels of domestic household debt remain a weak point.

Australia needs China to successfully manage risk build-up in its financial system.