Australia could reach zero lower bound, says Lowe

philip-lowe

The Reserve Bank of Australia could lower its 1% policy rate down to the zero lower bound, its governor Philip Lowe said today (August 9).

Addressing an Australian parliamentary committee, Lowe discussed the future of Australian monetary policy, saying he was still open to further cutting the country’s record low policy rate.

Lowe said the RBA was studying the effects that interest rates below zero have had on other economies in “great detail”, adding that the chance of Australia reaching the

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