Loop Images | Universal Images Group | Getty ImagesAustralia's first-quarter gross domestic product expanded by 2.3% year-on-year, just slightly below analyst expectations.
"Private and public gross fixed capital formation were the main drivers of GDP growth this quarter," Keenan said.
The GDP readings are key to the Reserve Bank of Australia's decision making process for its monetary policy.
In this "narrow path" that Lowe envisions, Australia's inflation returns to its 2% to 3% target range, the economy continues to grow, and gains in the labor market are preserved.
But it is a narrow path and likely to be a bumpy one, with risks on both sides," Lowe said.
Persons:
Katherine Keenan, Keenan, Philip Lowe, Lowe, " Lowe
Organizations:
Getty, Reuters, Australia's Bureau, Statistics, lockdowns, Reserve Bank, Reserve Bank of Australia, Morgan Stanley Australia Summit
Locations:
Melbourne, Australia