KONTAN.CO.ID - SYDNEY. Australia's top central banker said on Thursday it was prepared to provide additional policy stimulus if future demand growth disappointed and that it was "reasonable" to expect an extended period of low interest rates. The Reserve Bank of Australia (RBA) has reduced interest rates twice since June to a record low 1% to revive growth and inflation. Financial markets are pricing in a real chance of a third cut before Christmas. "On current projections, it will be some time before inflation is comfortably back within the target range," RBA Governor Philip Lowe said in a speech in Sydney.
Australia's central bank governor says reasonable to expect lower rates for longer
KONTAN.CO.ID - SYDNEY. Australia's top central banker said on Thursday it was prepared to provide additional policy stimulus if future demand growth disappointed and that it was "reasonable" to expect an extended period of low interest rates. The Reserve Bank of Australia (RBA) has reduced interest rates twice since June to a record low 1% to revive growth and inflation. Financial markets are pricing in a real chance of a third cut before Christmas. "On current projections, it will be some time before inflation is comfortably back within the target range," RBA Governor Philip Lowe said in a speech in Sydney.