Australia's Economy Is Improving, Central Bank Chief Says
- Global rate rises have “no automatic implications”: Lowe
- Governor delivers speech in Perth on economy’s next chapter
Australian one-hundred dollar and fifty dollar banknotes are arranged for a photograph in Sydney, Australia, on Monday, July 4, 2016. Australia's failure to make a decisive political choice coupled with ongoing Brexit fallout point to the central bank waiting a month to assess the implications before resuming interest-rate cuts.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Australia’s central bank chief signaled no rush to join global peers in reining in stimulus even as the nation’s economy “does look to be improving”.
Hours after the Federal Reserve suggested it would hike again this year, Philip Lowe reiterated that a rise in global interest rates “has no automatic implications” for Australia, in a delivered in Perth. The Australian dollar fell almost half a U.S. cent.