Reserve Bank governor Philip Lowe says. are interest rates going to be reduced further?" he told the audience. "The answer here is that the board has not yet made a decision, but it is not.
Mr Lowe said banks have benefited from a reduction in raising funds in wholesale markets and so should pass on the lower cash rate in full with lower mortgages.
In a speech late on Tuesday, RBA Governor Philip Lowe said it was “not unreasonable” to expect a lower cash rate from here, signaling the door was wide open for further easing. A major setback in.
Dr Lowe said the bank’s decision to cut rates to an historic low of 1.25 per cent from 1.5 per cent had been driven by a failure to see enough wage growth and inflation, and not because of a.
"Not unrealistic" to expect a further reduction in the cash rate. "Unrealistic" to think one 1/4 point rate cut can alter growth path. Lower rates to help through effect on A$, disposable incomes.
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Rate decision was not in response to deterioration in outlook since May. Easing aimed at spurring jobs growth, lifting inflation. Rate cut is to lead lower AUD than otherwise would have been the case.
"The board has not yet made a decision, but it is not unreasonable to expect a lower cash rate," Governor Philip Lowe said in an evening speech in Sydney. "Our latest set of forecasts were prepared on the assumption that the cash rate would follow the path implied by market pricing, which was for the cash rate to be around 1% by the end of the year."
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There will be higher rate cuts for its investor only borrowers who will be a 35 basis point cut. "The board has not yet made a decision, but it is not unreasonable to expect a lower cash rate", he said. The US Federal Reserve has also turned dovish, with the US-China trade war dragging on, the note said.
Reserve Bank Governor Philip Lowe says it is "not unreasonable" to expect that interest rates will get. called on banks to fully pass on the reduction in the cash rate to customers through lower.