RBA's Lowe asks federal government to do more to generate economic activity - The Sydney Morning Herald
|Reserve Bank of Australia's (RBA) chief Philip Lowe fears the economy's time is up and wants the Federal government to do more to generate economic activity.
Lowe said:
“The best option is creating an environment where firms want to innovate, invest, expand and hire people. I think that’s the best option. I’m sure at the analytical level the government would agree. The challenge they have is to develop a program to do that.”
The central bank cut rates in June and July and is widely expected to do more over the coming months. Last month, RBA's Lowe told the US Federal Reserve gathering at Jackson Hole that the monetary policy cannot deliver medium-term growth and we are just pushing up asset prices with rate cuts.
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