The yield on the 10-year Australian government bond rose to 0.95% on Friday, the highest level since July 2, after Reserve bank of Australia’s (RBA) governor Lowe said negative interest rates are unlikely in Australia. “It’s possible the cash rate will be 0.25% for the next five years,” Lowe said while speaking in front of the Parliament’s House of Representatives’ Standing Committee on Economics and added that conditions for rate rise may not be met for at least three years. In addition, the governor told Parliament that the economy could contract by 6% this year and grow by 5% in 2021 and 4% in 2022. Lowe’s comments on negative rates look to have lifted the 10-year yield. The Australian bond market may also be taking cues from the US treasury market, where yields have recently hardened. The US 10-year yield rose to 0.727% on Thursday, the highest level since June 24, having bottomed out at 0.504% on Aug. 6. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Price Analysis: Seesaws inside immediate triangle below 1.3100 FX Street 2 years The yield on the 10-year Australian government bond rose to 0.95% on Friday, the highest level since July 2, after Reserve bank of Australia’s (RBA) governor Lowe said negative interest rates are unlikely in Australia. “It's possible the cash rate will be 0.25% for the next five years,” Lowe said while speaking in front of the Parliament’s House of Representatives' Standing Committee on Economics and added that conditions for rate rise may not be met for at least three years. In addition, the governor told Parliament that the economy could contract by 6% this year and grow by 5% in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
