Headlines From RBA Governor Philip Lowe's Speech Wednesday

• Published on
• 03 Feb 2021, 12:32 PM

Headlines from RBA Governor Philip Lowe’s speech on Wednesday:

RBA Lowe: Made No Decision Yet On Shifting 3-Yr Target To Nov 2024 Bond
--Will Pay Close Attention To Econ Data, Infla, Jobs Outlook To Decide If To Shift
--No Cash Rate Hike Before 2024, Possible It Will Be Later Than This
--3-Yr Yld Target Anchored Yld Curve, Reinforced Forward Guidance
--Very Significant Monetary Support Need To Be Maintained For Some Time To Come
--Premature To Be Considering Withdrawal Of Monetary Stimulus
--Would Extend TFF Drawdown Date If Funding, Credit Conditions Worsen
--At The Moment No Sign Of Worsening Funding, Credit Conditions

--Noted Most Other Central Banks Extended QE Atleast Until End Of This Year
--“Unwelcome Upward Pressure” On AUD Would Have Happened If QE Ended In April
--Evidence Shows QE Extension Would Not Lead To Market Dysfunction
--RBA Remains “Well Short” Of Inflation, Jobs Goals
--Easy MonPol Have Resulted In Lower AUD Than Otherwise
--Watching Household Spending, Private Non-Mining Investment Carefully
--Higher Housing Prices Support Spending, House-Building
--Will Be Concerned If Lending Standard Deteriorate; Few Signs Of This Now
--Path Ahead Likely To Be Bumpy And Uneven