Lowe referring to this: Australia has extended its income support scheme but at reduced, and tiered, rates
Reserve Bank of Australia Governor Lowe Q&A now following his earlier speech
More (bolding is mine, on AUD and also on the lockdown in Melbourne):
- would be a mistake to withdraw government support too early
- says can be assured the RBA will continue its support for the economy
- says possible could lower cash rate to 0.1%
- judgement is lower rates would have little benefit
- could expand bond buying but sees little need
- cannot make case AUD is misaligned right now
- would like to see a lower AUD
- AUD value set in market, not going to intervene to lower it
- says coronavirus lock down in Melbourne very concerning
- will do whatever is required to keep yield on 3 year bonds near 25bps
Lowe with Australia's Treasurer Frydenberg. In earlier times, not shaking hands lately.
