Reserve Bank of Australia Governor Lowe's speech " a game changer"
Westpac on the comments from RBA Gov. Lowe yesterday.
(If you missed it, summary and links etc here).
Westpac were already forecasting more easing from the RBA at the November meeting (Nov. 3rd). and yesterday cemented that view:
- In a very clear signal of his immediate actions ... (Lowe) ... noted "As the economy opens up.... it is reasonable to expect that further monetary easing would get more traction than was the case earlier".
- That signal is about as strong as you can get that he is planning to ease policy at the next Board meeting on November 3.