RBA deputy governor says record low rates are beginning to work
The Reserve Bank of Australia's (RBA) loose monetary policy has helped maintain Australia's internal balance and the beneficial effects of record low rates are beginning to be felt, according to Philip Lowe, a deputy governor at the RBA.
Speaking at a conference of the Australian Industry Group on March 19, Lowe said debate over whether six rate cuts since November 2011 were working was not surprising due to the lag between a policy change and its effect. But he pointed to various reasons to be
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