CBA on new RBA Gov Lowe - where he stands on a range of issues

The market is still sussing out new Reserve Bank of Australia Governor Philip Lowe

This now from CBA (actually CommSec arm of CBA):

• The Reserve Bank Governor has quickly moved to make it clear where he stands on a range of issues.
• Philip Lowe believes "full employment" is broadly consistent with an unemployment rate near 5 per cent.
• The Governor also reiterated his strong defence of the flexible 2-3 per cent medium-term inflation target.
• And the new Governor will be guided by "public interest" - especially the impact on the job market and balance sheets - when assessing the policy implications of deviations of inflation from the target band. 
• Philip Lowe has also made it abundantly clear that rates haven't been cut this year because the economy has been weak: "The easing in policy was not in response to concerns about economic growth."
• The Governor said that both labour market and housing market indicators have been "mixed".
• And there will be an "important update" on inflation next week. So the Reserve Bank Governor has kept his cards close to his chest - there are no clear signals for monetary policy.