More from RBA Gov Lowe - no implications for the RBA from the RBNZ 50 point rate cut
Sees no immediate implications for the RBA
- RBNZ responding to same forces as the RBA is
- if other global central banks go to zero we'll have to consider that as well
- another scenario for zero rates is if the Australian economy weakens well below expectations
- would be very close to zero before we consider QE
- QE is a long way from central scenario
AUD not moving too much at all now.