RBA Gov. Lowe says QE is likely to be needed in future business cycles, but there limits

Reserve Bank of Australia Governo Lowe in the Q&A now after his earlier speech:

• RBA Governor Lowe repeats the Bank expects it'll be 2024 before inflation is in the target range

More comments now:

• says QE is likely to be needed in future business cycles
• but there are limits, central banks cannot keep buying assets
• says fiscal policy will need to play a bigger role in future cycles
• says not considering negative rates
• does not see a convincing case for a change to the CPI target
• has not considered whether to let inflation run above 2-3% target range
• it will take a long time to get wages above 3%
• will not hike rates to choke off housing price rises
• the Bank's modest reduction in QE and purchases reflects economic progress

more to come