> RBA's Lowe: Do not expect cash rate to be increased until 2024 at the earliest

RBA's Lowe: Do not expect cash rate to be increased until 2024 at the earliest

Tuesday, 06/07/2021 | 06:16 GMT-0

Remarks by RBA governor, Philip Lowe

Step down from A$5 billion to A$4 billion bond purchases weekly not a representation of withdrawal of support in this area
Wants to see inflation above 2% for a number of quarters
Wants to see wage growth sustainably above 3%

Nothing new here from Lowe as he is largely reiterating what the policy statement communicated earlier in the day. AUD/USD has risen to 0.7599 though but that mainly stems from a weaker dollar in the past 15 minutes.