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MNI BRIEF: RBA Lowe: QE, Rate Cut To Gain More Traction Now

MNI (Sydney)
SYDNEY (MNI)

The Reserve Bank of Australia has upgraded its financial outlook to be more positive, believing the latest easing moves "will get more traction" as the economy opens than during the recent lockdown, Governor Philip Lowe said Tuesday.

"As restrictions are eased and people have more opportunities to spend, our judgement is that further monetary easing now provides additional support to other policies," Lowe said.

He said the new measures, including a rate cut to 0.1% and increased bond purchases, were aimed squarely at the issue of unemployment, a problem which "damages the fabric of our society."

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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