RBA’s Lowe: Closer to pausing on rate hikes
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Reuters reported Reserve Bank of Australia’s governor, Phillip Lowe said on Wednesday said it was closer to pausing its aggressive cycle of rate increases as the policy was now in the restrictive territory and there were signs the economy was responding.
The Reserve Bank of Australia (RBA) on Tuesday lifted interest rates to an 11-year high of 3.60% and flagged more tightening would still likely be needed to tame inflation.
AUD/USD is licking its wounds by over 2% lower from where it started out on Tuesday following a combination of a dovish RBA and hawkish Federal Reserve chairman.
More here: AUD/USD falls heavily as bears move in towards the 0.6580s target area
Philip Lowe replaced Glenn Stevens as governor of Australia’s central bank. Lowe was the Deputy Governor of the Reserve Bank of Australia, a position he held since February 2012.
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