Reserve Bank of Australia (RBA) Governor Philip Lowe is on the wires now, via Reuters, speaking on a panel at FINSIA's "The Regulators" Webinar.
“Australian financial system is resilient and is well placed to deal with COVID-19.”
“Capital and liquidity buffers that exist are available to be drawn upon if required to support the economy.”
“Important that lenders continue to support the flow of credit to the economy.”
“The future remains unusually uncertain.”
“One obvious source of uncertainty is the pace at which the various restrictions are eased. “
“Another source of uncertainty is the level of confidence that people have about their future.”
“Critical issue for us here in Australia is restoring people's confidence. “
“We remain prepared to scale up bond purchases again if necessary.”
“There is a limit to what can be achieved with monetary policy.”
Having faced rejection at 0.6600, AUD/USD extends losses to test 0.6550 amid cautious market sentiment, as Australia-China/ US-Sino trade tensions and rising COVID-19 cases worldwide weigh. RBA Lowe's cautious remarks add to the downside.
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.