RBA Gov. Lowe says remain prepared to scale up bond purchases again if necessary
Nothing specific from Reserve Bank of Australia Governor Lowe, just a mixture of pep talk and general observation.
- Australian financial system is resilient and is well placed to deal with covid-19
- capital and liquidity buffers that exist are available to be drawn upon if required to support the economy
- important that lenders continue to support the flow of credit to the economy
- the future remains unusually uncertain
- one obvious source of uncertainty is the pace at which the various restrictions are eased
- another source of uncertainty is the level of confidence that people have about their future
- critical issue for us here in Australia is restoring people's confidence
- we remain prepared to scale up bond purchases again if necessary
- there is a limit to what can be achieved with monetary policy
Meanwhile, AUD continues its dribble lower for the session.