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- RBA’s Lowe: A more normal level of rates would be 2.5%
RBA’s Lowe: A more normal level of rates would be 2.5%
While adding to his hawkish remarks that justify the RBA's latest rate hike, Governor Philip Lowe said, "A more normal level of rates would be 2.5%."
Also read: RBA’s Lowe: Further increases in interest rates will be necessary over the months ahead
Additional comments
Election had no influence on rate decision.
Mid-point of inflation target band is 2.5%, have expected rates to get back to that sort of level.
Have open mind on how fast rates need to rise.
Reasons to believe inflation will start to moderate.
Do not need these emergency rate setting anymore.
AUD/USD stays firmer
Following a quiet response to RBA's Lowe, AUD/USD picks up bids to 0.7120 by the press time.
Read: AUD/USD defends RBA-led gains near 0.7100 on Lowe’s remarks, USD rebound
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