Reserve Bank of Australia Debelle's speech - "Monetary Policy in 2020"
- says policy action has reduced borrowing costs
- says bond buying program means a$ is lower than it otherwise would be
- program needed as australian 10-year yields were higher than in peer nations
- says must be careful not to remove policy stimulus too early
- says australian government debt is very manageable
- says federal government and state debt is "absolutely sustainable"
- reiterates board does not expect to increase the cash rate for at least 3 years
- says materially lower jobless rate needed to lift wages, inflation
- says banks have strong balance sheets to support economy into recovery
- says expects average mortgage interest rate paid by households to decline further
- says news about vaccines should help bolster confidence
- says likely some time before vaccines widely available and distributed
Headlines via Reuters with the full text available here:
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