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The Reserve Bank of Australia’s (RBA) Deputy Governor Guy Debelle was out on the wires Tuesday, stating lack of conviction in negative interest rate policy as a tool to boost inflation and employment. 

The central bank recently cut rates to a record low of 0.10% and has been buying bonds since the second quarter to contain the economic fallout from the coronavirus outbreak. 

Key quotes

  • Don’t see much risk of inflation rising too high in the next three years. 
  • There is lots of uncertainty on economy
  • There is long way to get back to pre-pandemic levels

RBA’s Debelle: Do not see too much upward pressure on house prices

RBA’s Debelle: Does not expect a rate hike for three years

 

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