RBA's Lowe: A long way from QE scenario happening
Further comments by Lowe on the day
- There are a lot of positives in the economy
- The important thing is to get inflation moving in the right direction
- It is going to take a long time for wages to translate to inflation
The headline basically sums it up. As mentioned earlier, all this talk of unconventional policy is merely conjecture as we are miles and miles away before even seriously considering such measures to be adopted by the RBA.
AUD/USD has pared back all of its earlier gains with price now settling back to 0.6780 with the 100-hour MA @ 0.6791 keeping firm for the time being.