Australia's central bank discussed unconventional monetary policies, includ...
SYDNEY, - Australia’s central bank discussed unconventional monetary policies, including negative interest rates, at its August board meeting as it left the door ajar for further easing having already cut rates twice to 1%.
The RBA left interest rates at all-time lows earlier this month after easing by a quarter point in both June and July. The RBA was tight-lipped about the timing of the next move, saying only that it would consider a further easing “if the accumulation of additional evidence suggested this was needed” to support its growth and inflation targets.The country’s A$1.9 trillion economy is expanding at its weakest pace since the global financial crisis, weighed by a long downturn in the property market and sluggish household consumption.
The RBA board reviewed the experience of other advanced economies with unconventional policies such as very low and negative rates, explicit forward guidance, buying government bonds and providing long-term funding to banks, the minutes showed.
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