RBA's Lowe: house prices in Australia affected by inflow of Chinese money
|While speaking at the Renminbi Global Cities Dialogue Dinner, in Sydney, RBA Governor Philip Lowe was noted saying that housing prices in some Australian cities have been affected by inflow of Chinese money.
He further added that internationalization of renminbi has significant implications for global economy and Chinese authorities understandably remained concerned that if left unchecked the turnaround in capital flows could be destabilizing
Lowe did not comment on the central bank's monetary policy stance but seems to have attracted some fresh selling pressure around the Aussie, with the AUD/USD pair reversing tepid recovery gains and drifting into negative territory.
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