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

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

Topic is (and full text can be found here):

• The Usual Transmission - Monetary Policy and Financial Conditions

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.