Asst. Gov. Kent Deploys Familiar Rhetoric

The language deployed by RBA Assistant Governor Kent in his latest
address (click here for full text) offered little new to the policy mix.

• "In response to the severe impact of the pandemic on economic
  activity and financial markets, the Australian authorities have
  provided unprecedented support, including via fiscal, monetary and
  prudential policies. Monetary policy has been focused on supporting
  the economy by keeping the cost of borrowing low and helping to
  maintain the supply of credit to households and businesses...From
  my perspective, these operations have worked well. Along with other
  monetary, fiscal, prudential and health policies, they contributed to a
  noticeable improvement in market sentiment and accommodative
  financial conditions. Among other things, we clearly see the effect of
  at low rates, including in fixed income markets."