BREAKING: RBA's Lowe: Australia needs to keep strong trade relationship with China
Reserve Bank of Australia's Governor Phillip Lowe is participating on the panel at the Australian’s 2020 Strategic Forum.
He has said that Australia needs to keep a strong trade relationship with China.
He adds, ''digitisation of economy to boost productivity.''
''Bond buying is lowering costs of government borrowing, but also rates across economy.''
''Sees no bubble in housing market.''
''Need rising housing prices in the current environment.''
''Slower population growth will restrain house prices.''
Yesterday, Lowe said that the RBA would consider negative interest rates only if all major central banks took their rates below zero, an "incredibly unlikely" scenario.
Lowe reiterated that negative rates were still "extraordinarily unlikely" in Australia, adding that the only benefit of sub-zero monetary policy was downward pressure on the country's currency.
AUD/USD 15-min chart
The price has made a 61.8% correction to prior structure which is expected to hold and potentially equate to a downside extensionof the dominant trend.
About Lowe
Philip Lowe replaced Glenn Stevens as governor of Australia’s central bank. Lowe was the Deputy Governor of the Reserve Bank of Australia, a position he held since February 2012.
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