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MNI BRIEF: RBA Forex Intervention Only If Dysfunctional: Lowe

SYDNEY (MNI)

The strength of the aussie dollar was not the main reason the Reserve Bank of Australia started its new quantitative easing package, Governor Philip Lowe said Tuesday, although he accepted it was one among many factor.

However, he underlined that the RBA would not intervene to weaken the currency, saying the only time the central bank would step in is if the forex markets became dysfunctional -- underlining that markets were certainly not that way at the moment.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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