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- Reserve Bank of Australia Deputy Governor Philip Lowe: interest rate cut is less effective than in the past
Reserve Bank of Australia Deputy Governor Philip Lowe: interest rate cut is less effective than in the past
The Reserve Bank of Australia Deputy Governor Philip Lowe said in a speech in Sydney on Wednesday that interest rate cut is less effective than in the past, but it weakened the exchange rate and encouraged housing construction.
Lowe reiterated that further interest rate cut "may be appropriate".
The deputy governor explained that February's interest cut was necessary because things ad turned for the worse.
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