RBA's Kent: Lower rates in Australia are easing financial conditions

Author: Eamonn Sheridan | Category: Central Banks

Reserve Bank of Australia Assistant Governor (Financial Markets) Christopher Kent speaking

Topic is (and full text can be found here):  
Reuters summary headlines:
  • says lower rates are easing financial conditions in usual way
  • recent broad-based easing in financial conditions will support demand
  • says lower rates have worked to pull down a$, despite firm commodity prices
  • bank funding costs have declined to record lows
  • banks passed on most of rate cuts to depositors and borrowers
  • variable mortgage rates have fallen by 44 bps on average, consistent with past
  • approvals for new home loans rose broadly in June amid improving housing market

AUD barely moving. 

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