RBA’s Kohler: Policy measures to date broadly achieved what bank set out to do
The policy measures to date broadly achieved the central bank’s desired mandate, the Reserve Bank of Australia's (RBA) Head of Domestic Markets Marion Kohler said in his speech to the Australian Financial Markets Association.
Additional quotes
“Lending to small business is little changed since the onset of the pandemic.”
“Home loan applications have risen in recent months.”
“Rising level of housing loan applications consistent with large vol of refinancing activity of late.”
“Package of monetary policy measures has worked to lower the interest rates paid by borrowers on their loans.”
“Banks more cautious about lending to businesses.”
Market reaction
On the upbeat comments, AUD/USD is off the lows but remains heavy below 0.7300 amid unabated US dollar demand across the board. The bulls were unimpressed by the stronger-than-expected Australian employment data.
The aussie was last seen trading at 0.7281, down 0.34% on the day.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
