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MNI BRIEF: RBA's Lowe Says 25bps And 50bps On Table In October

MNI (PERTH)
MNI (Perth)

Governor Philip Lowe said he wouldn’t be surprised if house prices fall 10%.

The Reserve Bank of Australia will consider hikes of 25bps or 50bps at its Oct 4 meeting as it looks for rates to eventually “cycle” between 2.5%-3.5%, Governor Philip Lowe told a parliamentary committee.

The RBA is approaching more normal monetary settings and the case for large adjustments in rates has “diminished”, Lowe said. “I think at our next board meeting we'll be considering whether it’s a 25bps or 50bps increase.”

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The Reserve Bank of Australia will consider hikes of 25bps or 50bps at its Oct 4 meeting as it looks for rates to eventually “cycle” between 2.5%-3.5%, Governor Philip Lowe told a parliamentary committee.

The RBA is approaching more normal monetary settings and the case for large adjustments in rates has “diminished”, Lowe said. “I think at our next board meeting we'll be considering whether it’s a 25bps or 50bps increase.”

Keep reading...Show less