Philip Lowe: Interest Rates and Board Members

philip lowe: Speaking to the Armidale Business Chamber overnight, Philip Lowe said while the Australian economy had reached a gentle turning point he expected interest rates to remain low for some time, according to Nine News Australia. The official cash rate is currently at a historic low of 1.0 percent, with many believing the RBA will slash that rate again when board members meet next week. To improve your experience update it here News NationalRBA Governor hints at more cuts to interest rates By Stuart Marsh Senior Producer7 37am Sep 25, 2019Facebook Tweet Mail The governor of Australia's Reserve Bank has hinted at more cuts to interest rates as the country's economic growth slows, hit hard by a lack of domestic household spending. Reserve Bank of Australia governor Philip Lowe speaking at the Armidale Business Chamber in NSW on 24 September 2019. The Board is prepared to ease monetary policy further if needed to support sustainable growth in the economy, make further progress towards full employment, and achieve the inflation target over time. Nine It is nevertheless likely that an extended period of low interest rates will be required in Australia to make progress in reducing unemployment and achieving more assured progress towards the inflation target, Governor Lowe told the chamber. (news.financializer.com). As reported in the news.