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SYDNEY coach business bags outlet , Aug. 11 (Xinhua) -- The Reserve Bank of Australia (RBA) announced on Friday that wage growth will remain low in Australia, with a close eye to be placed on the effect of consumer spending habits on the overall economy.

Philip Lowe, the governor of the RBA, appeared before the House of representatives Standing Committee on Economics on Friday and said that there has been an "adjustment" with everyday Australians needing to "get used to lower growth in their real wages."

"Many now see this as more than just a temporary development, with wage increases of 2 point something percent now the norm. In my view, the underlying drivers of the slower wage growth in Australia are much the same as we are seeing overseas coach accessories outlet clearance ," Lowe said.

In his testimony, the governor made note of the increased pressure on households, as they deal with increasing debt burdens when compared to their income - as well as the constant strain of soaring electricity prices - which means consumer spending may be negatively affected.

Paul Dales, chief economist at Capital Economics told Xinhua on Friday that the lack of wage growth in Australia is a major issue, with the key concern for the Australian economy being how the "drag" on consumption growth will affect the local economy overall.

"Our forecast is that consumption growth will actually slow from 2.6 percent last year to 2 percent this year, which is basically the main reason we don't expect economic growth to be as good as the RBA expects over the next couple of years coach accessories outlet ," Dales said.

"It is a big downside risk to the economy, and to the RBA's own forecasts as well."

Investment in business was also on the RBA's agenda at the hearing in Melbourne, and Lowe said that the "strong pick-up" that the RBA has been waiting to see from non-resources investment levels is taking longer than anticipated.

"While we do see positive signs in parts of the economy, many firms still show some reluctance to commit to significant investment, often citing a range of uncertainties. It is possible that this reluctance will continue for a while yet," Lowe said.

Lowe was not entirely negative on the outlook however coach handbags outlet clearance , and said the RBA will continue to adopt a "middle path" approach with their forecasts, as improved business conditions could potentially open the door to an influx of investment down the line.

The head of the RBA was pleased by the "upside" of growth in China, which directly benefits the Australian economy, and the chief economist of the Commonwealth Bank, Craig James, told Xinhua on Friday that China is one of the aspects that the RBA will continue to monitor closely in relation to the Australian economy.

"A number of areas are being watched closely coach handbags outlet , from the strength in Chinese demand, to rising Australian dollar, investment and rising household debt," James said.

"Overall the Reserve Bank Governor was more optimistic on the medium term outlook for the Australian economy. Highlighting that even when it comes to mining investment the pullback is almost complete. The focus now is to ensure an ongoing lift in non-mining business investment to support medium term growth objectives."

The RBA has kept the interest rate steady at 1.5 percent over the past year, and Lowe said that it would be reasonable to assume that the next interest rate shift will be up, although that would be "some time away."

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Chase Carey replaces Bernie Ecclestone as the chief executive of the Formula One Group in January after American mass media company Liberty Media bought the group in late 2016. Photo: CFP

The old ringmaster has gone coach madison wristlet small , pushed aside by Formula One's new American owners, and the marketing men have moved in with a mission to overhaul the circus and give spectators something more modern for their money.

If an era ended in January with the exit of Bernie Ecclestone, following Liberty Media's takeover, the Formula One season starting in Melbourne, Australia on March 26 marks a bright new dawn.

The cars are faster, wider and more aggressive-looking with fatter tires and revised aerodynamics but coach legacy wristlet small , behind the scenes, more far-reaching changes are being mapped out to drive expansion.

Sean Bratches and Ross Brawn have been appointed managing -directors for the commercial and sporting sides respectively, -under Chairman Chase Carey, and -sponsorship and research executives recruited.

The sport is set to accelerate further away from the Ecclestone era, one in which the 86-year-old controlled everything with a famous reluctance to delegate.

"There will be a point in the season ... where we start to effectuate change," Bratches told Reuters.

"We are going to be very aggressive. We are going to try new things coach poppy wallet black , all in the spirit of better serving Formula One fans."

In the short term, that means -building up the race weekend, adding in entertainment and events along the lines of Super Bowl week, exploiting digital platforms and building fan engagement through social media.

Longer term, expect new races - with Las Vegas and other US destination cities high on the wish list - closer ties to promoters and a push to maximize revenue.

"We are not yet really even a player in the digital media landscape, so that's an opportunity for us to add some digital dimension to our traditional broadcast media coach legacy wallet black ," Carey said in January.

Slow burn

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