But he warned that recent rise in the Australian dollar "is expected to contribute to subdued price pressures in the economy" as well as "weighing on the outlook for output and employment".
The unemployment rate is expected to decline a little over the next couple of years. The economy is nearly out of the reversal of mining investment that had been weakening growth of late - another bonus.
In his statement, Dr Lowe said that although retail sales had picked up recently, "slow growth in real wages and high levels of household debt are likely to constrain growth in spending".
The Australian dollar was buying roughly 80.2 U.S. cents before Governor Lowe issued the strongly-worded statement.
According to data compiled by IHS Markit Britain's Manufacturing PMI jumped from 54.2 to 55.1 in July, rallying from a notable drop in activity in June and beating expectations of only a 0.2% rise.
Despite the bank's concern over recent strength in the Australian dollar, the broader economy has improved in recent months.
He said Dr Lowe's reference to higher commodity prices against the backdrop of expected weaker terms of trade also indicated the RBA was unconvinced a recent bounce in commodity prices was sustainable. "But, for now, policy still seems set to remain on hold", said Lloyds Commercial Banking's, chief economist, Rhys Herbert, who forecasts a 6-2 split in favour of keeping interest rates unchanged.
There is also likely to be a short-term pick up in inflation, as measured by the consumer price index, as higher electricity and tobacco prices flow through.
The Reserve Bank signalled that it was not particularly anxious about housing prices, saying they were rising briskly in some markets, albeit more slowly.
"In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years", Lowe said.
A higher exchange rate means both its exports comparatively more costly.
The jump appeared to be largely driven by increased foreign demand for British goods as the weaker Pound makes good produced in the United Kingdom more attractive to overseas buyers.
And he did point to the disturbing trend that "growth in housing debt has been outpacing the slow growth in household incomes".
The RBA also remained fairly neutral in its outlook for future growth as it said "forecasts for the Australian economy are largely unchanged", which would suggest that the bank's quarterly Statement on Monetary Policy (SoMP) on Friday will not deviate greatly from the RBA previous forecast of 3% annual growth.
Public officials sound "a steady drumbeat" of warnings about hydration, hiking and leaving pets and children unattended, she said. For the second time in two days, a child left alone in a hot auto has died in Phoenix, the city's Fire Department said Saturday.
The stretch forward got into a scrum with Jito Kok of the Netherlands, and Gallinari threw a punch that connected with Kok's face. Gallinari reportedly had to go to the hospital to get his hand examined, but the severity of his injury is not yet known.
After making several efforts, the Republicans still haven't been able to repeal and replace Obamacare . Senate Minority Leader Charles Schumer urged his GOP colleagues to back away from opening debate.
According to the sources AndroidAuthority , the manufacturer LG plans to introduce to the world the V30 during IFA 2017 in Berlin. Other than the Snapdragon 835 SoC, the phone will come with at least 4GB RAM and another 6GB RAM variant will also be available.
The migrants are fleeing triple-digit inflation, food and medical shortages and a homicide rate that is among the world's highest. An AP tally of official reports shows that the death toll in almost 4 months of civil unrest in Venezuela has reached 100.
The state government is also planning to bring in divers from the Indian Navy for assistance in flooded regions of Banaskantha. At least 48 people have been killed as large swaths of western India have been lashed by heavy monsoon rains and flooding.
Trump's audience, mostly police officers from the Suffolk County Police Department, cheered Trump's praise for police brutality. Attorney Jeff Sessions visited LI to make similar commitments just weeks after a quadruple murder in a Central Islip park.
The White House said it doesn't have a timeline for the Department of Defense as to how exactly this new policy would work. A USA official told CNN that Mattis was consulted on Trump's plan to announce a transgender military ban.
Apart from the release date, nothing more was mentioned to the public, including the cast or even who will be directing the film . Adele , who sang the lead track for " Skyfall ", is also hoped to return for the soundtrack for " James Bond 25 ".
The Surface Plus and Surface for Plus for Business are available for United States customers and businesses online and in-store. Surface Plus for Business will also let businesses get Office 365 for Business with an additional $8.25 per user per month.
Sarah Paulson and Evan Peters were husband and wife in " AHS: Roanoke " and are said to be love interests once again in " Cult ". Okay AHS fans, we're slowly finding out more and more about the new season to come, Cult , and boy howdy, are we ready for this.
Israel's move triggered Muslim protests and claims that it's trying to expand its role at the site, which is also holy to Jews. Members of the Arab League will hold an emergency meeting over the crisis on Thursday ( 27 July), the Jordan Times reported.
AMD unveils Vega gaming GPU lineup
Heck, AMD Windows drivers have really improved over the years too, making it a treat to upgrade when a new version is released . It sports 8GB of memory like its more powerful sibling, but has fewer texture units and a slower boost clock speed of 1471MHz.
Turkey coup trial: nearly 500 in court
Following the coup, the government instituted a strict state of emergency, granting itself wide-ranging powers. Gulen was once allied with President Recep Tayyip Erdogan , though the two subsequently fell out.
India thrash Sri Lanka by 304 runs to win first Test
After bowling Sri Lanka out for 291, India reached 189 for 3, stretching their lead to 498 with two days left in the game. Mendis got out at 108 after making 36 off 71 deliveries with three boundaries as Sri Lanka slid down to 116-4 in no time.
Pradeep takes five, but India surpass 500
What was most impressive about the right-arm pacer's wickets was that he managed to dismiss four out of India's top five batsmen. However, the bowlers of India are really doing well and it has been expected that this day will be in the favor of India only.
Embassy Staff Return to Israel After Amman Shooting Incident
Meanwhile, Israel asked its embassy staff to return home on Tuesday, despite resistance from Jordanian lawmakers and the public. Jordan is the custodian of the Muslim shrine and was involved in behind-the-scenes negotiations to end the latest escalation.
Amit Shah To Be Defence Minister, Om Mathur BJP President?
In such circumstances, it is not possible for me to work for Congress party, due to this I resign from all the posts of Congress. In a media statement earlier this week, Vaghela said that Patel had offered him a Rajya Sabha seat but he had turned it down.
Wildfires force French Riviera evacuation of thousands
The Civil Protection Agency reports it has deployed more than 1,100 firefighters and 23 water-dropping aircraft to 13 blazes. Portugal's peak fire season, which usually starts after July 1, began early this year amid a severe drought.
Renato Sanches Hints At His Next Club
Only a day after hinting to the media that he might change his strategy and take more chances to go for goal, Bayern Munich forward Thomas Muller delivered. "There is no way Vidal is leaving", he added.
Don't know if 39 abducted Indians are alive
However, a media report from Badush on Friday said the jail is now an abandoned structure and has been unoccupied for weeks. Singh was also sent to Iraq days after the Iraqi prime minister announced victory in the fight to liberate Mosul.