Loan Digest

Australia's former central bank head warns of limited power of rate cuts: paper

  • 📰 Reuters
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Further interest rate cuts by the Reserve Bank of Australia would do little to b...

FILE PHOTO: A pedestrian is reflected in a wall of the Reserve Bank of Australia head office in central Sydney, Australia, October 3, 2016. REUTERS/David Gray

The RBA this week cut its benchmark rate for the third time this year to a record low 0.75%, in a bid to revive employment growth, consumer spending and inflation, and said it was prepared to cut further if needed. “It’s done everything it can do. Once interest rates are negligible, further cuts would seem to have very little power to do anything useful.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PG&E says it has debt financing commitments of $34.35 billion for reorganizationCalifornia power provider PG&E Corp said in court papers on Friday it has receiv... save_the_Iraqi_peoples Save_the_Iraqi_people
Source: Reuters - 🏆 2. / 97 Read more »