RBA Governor Philip Lowe speaks at a panel in...>

RBA: RBA Governor Philip Lowe speaks at a panel in Canberra at writing.

- Participants turned focus to Lowe's comment that there are limits to what

further monetary easing could achieve and questions about its effectiveness are

"legitimate". AUD jumped to the top of the G10 pile, while Aussie bond future

prices dipped. 

- However, implied probability of a cash rate cut at the next RBA monetary

policy meeting has remained near the prior levels thus far.

- The governor also noted that global risks remain tilted to the downside and

pointed to the fact that most major central banks cut policy rates. He said that

the exchange rate is one of the most important channels through which monetary

policy can impact the economy, but the potential of this channel is limited when

everyone else is easing.