Central Banks

Reserve Bank of Australia Governor Lowe Q&A now following his earlier speech

More (bolding is mine, on AUD and also on the lockdown in Melbourne):
  • would be a mistake to withdraw government support too early
  • says can be assured the RBA will continue its support for the economy 
  • says possible could lower cash rate to 0.1% 
  • judgement is lower rates would have little benefit
  • could expand bond buying but sees little need
  • cannot make case AUD is misaligned right now
  • would like to see a lower AUD
  • AUD value set in market, not going to intervene to lower it
  • says coronavirus lock down in Melbourne very concerning
  • will do whatever is required to keep yield on 3 year bonds near 25bps

Lowe with Australia’s Treasurer Frydenberg. In earlier times, not shaking hands lately. 

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