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RBA's Lowe Says Risk of Rate Cut Now Outweighs Likely Benefit

Friday, 7 February 2020 08:15 WIB RBA Philip Lowe

Australia's central bank chief Philip Lowe signaled his board is firmly on hold for now, saying further cuts to the nation's already historically-low interest rate risk doing more long-term damage to the economy than the short-term benefit they would create. "While it's plausible that we can move toward our goals, at least right at the moment the risks have slightly tilted to outweigh the benefits," the governor told a parliamentary panel in Canberra Friday. “But that could turn, particularly if the unemployment rate deteriorates.” He warned of “significant areas of uncertainty” including the outbreak of coronavirus in China, the nation's largest trading partner, and said signs...

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Reserve Bank of Australia's Governor Philip Lowe is speaking on "The Year Ahead" at the National Press Club, Sydney today. Markets are looking for further clarification since the RBS's rate decision yesterday and surprise optimism about the...

Australia kept interest rates unchanged Tuesday as the labor and property markets' strength gives the central bank room to wait and see how badly the economy will be hit by a slump in China's growth. Governor Philip Lowe kept the...

The Bank of England on Thursday decided to hold interest rates at 0.75% by a 7-2 vote. Futures prices had been divided on whether the Bank of England would cut or not. While surveys of businesses had picked up since the Dec. 12 election, recent...

The Federal Reserve kept its benchmark interest rate steady and continued to signal policy would stay on hold for the time being as the U.S. enters a presidential election year. The target range of the federal funds rate of 1.5% to 1.75%...

The European Central Bank, as expected, left interest rates unchanged on Thursday and maintained its commitment to purchasing 20 billion euros ($22.8 billion) a month in bonds. The ECB's deposit rate stands at -0.5%, while its main refinancing...

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