RBA’s Lowe: Without a COVID-19 medical breakthrough, economic recovery will be slow
|Further comments are crossing the wires from the Reserve Bank of Australia (RBA) Governor Phillip Lowe, as he continues to speak on a panel at FINSIA's "The Regulators" Webinar.
“Without a COVID-19 medical breakthrough, the economic recovery will be slow.”
“Confidence is very fragile, restoring it is key.”
“Not appropriate to tighten monetary policy until we have robust growth.”
“No change to thinking on negative interest rates, still "extraordinarily" unlikely.”
“Costs of negative interest rates do exceed the benefits.”
AUD/USD keeps losses
AUD/USD holds lower ground near 0.6555 following dovish comments from the RBA Governor Lowe and broad USD rebound. The bearish bias remains intact as Australia-China/ US-Sino trade tensions and rising COVID-19 cases worldwide weigh.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.