RBA's Lowe: Interest rates are going to be low for quite a while yet

Developing story

The Reserve Bank of Australia Governor Phillip Lowe is currently speaking on a panel at the Australian parliament's House of Representatives Standing Committee on Economics.

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Key comments

• RBA GOVERNOR LOWE SAYS AUSTRALIA IN A MUCH BETTER PLACE THAN MOST COUNTRIES
• 04-Feb-2021 16:32:53 - RBA GOVERNOR LOWE SAYS ECONOMIC RECOVERY STARTED EARLIER AND IS STRONGER THAN WE HAD EXPECTED
• 04-Feb-2021 16:33:09 - RBA GOVERNOR LOWE SAYS MANY ECONOMIC OUTCOMES WERE BETTER THAN OUR UPSIDE SCENARIOS
• 04-Feb-2021 16:34:57 - RBA GOVERNOR LOWE SAYS BEFORE INCREASING THE CASH RATE, THE BOARD WANTS TO SEE INFLATION SUSTAINABLY WITHIN THE 2 TO 3 PER CENT TARGET RANGE
• 04-Feb-2021 16:35:06 - RBA QUARTERLY STATEMENT SAYS RBA IS COMMITTED TO MAKING FURTHER PROGRESS IN REDUCING UNEMPLOYMENT AND HAVING INFLATION RETURN TO THE TARGET RANGE
• 04-Feb-2021 16:35:08 - RBA GOVERNOR LOWE SAYS MEETING THIS CONDITION WILL REQUIRE A TIGHTER LABOUR MARKET AND STRONGER WAGES GROWTH THAN WE ARE CURRENTLY FORECASTING
• 04-Feb-2021 16:35:21 - RBA QUARTERLY STATEMENT SAYS CENTRAL SCENARIO IS FOR THE UPSWING IN THE AUSTRALIAN ECONOMY TO CONTINUE, WITH ABOVE-TREND GROWTH OVER THE NEXT COUPLE OF YEARS
• 04-Feb-2021 16:35:30 - RBA GOVERNOR LOWE SAYS DIFFICULT TO DETERMINE EXACTLY WHEN THIS CONDITION MIGHT BE MET, BUT, WE DO NOT EXPECT IT TO BE BEFORE 2024
• 04-Feb-2021 16:35:37 - RBA QUARTERLY STATEMENT SAYS GDP IS EXPECTED TO INCREASE BY 3½ PER CENT OVER BOTH THIS YEAR AND 2022
• 04-Feb-2021 16:35:44 - RBA GOVERNOR LOWE SAYS INTEREST RATES ARE GOING TO BE LOW FOR QUITE A WHILE YET
• 04-Feb-2021 16:36:10 - RBA SAYS EXPECTING THE LEVEL OF GDP TO RETURN TO ITS END-2019 LEVEL BY THE MIDDLE OF THIS YEAR, WHICH IS 6 TO 12 MONTHS EARLIER THAN PREVIOUSLY EXPECTED
• 04-Feb-2021 16:36:14 - RBA GOVERNOR LOWE SAYS THE BOARD JUDGED THAT IT WAS IN THE "NATIONAL INTEREST" FOR THE BANK TO CONTINUE WITH ITS BOND PURCHASES
• 04-Feb-2021 16:36:28 - RBA GOVERNOR LOWE SAYS THE RBA DOES NOT, AND WILL NOT, DIRECTLY FINANCE GOVERNMENTS
• 04-Feb-2021 16:36:29 - RBA SAYS IN OUR CENTRAL SCENARIO, THE UNEMPLOYMENT RATE CONTINUES TO DECLINE TO REACH 6 PER CENT BY THE END OF THIS YEAR AND AROUND 5¼ PER CENT BY MID 2023

More to come