Thank you to Thomson Reuters for inviting me to address you this morning and to celebrate with you your achievements in economic forecasting. May I take this opportunity to extend my sincere congratulations to the winner of this prestigious award to be handed out this morning, and also to congratulate all of the nominees present here today.
While the income of households with deposits is lower, the household sector as a whole has around twice as much debt as deposits. Hence the cash flow boost from lower mortgage payments outweighs that of https://www.rba.gov.au/speeches/2019/sp-dg-2019-08-15.html  7/10  8/15/2019  Risks to the Outlook | Speeches | RBA  lower deposit rates.