Heightened tensions between the United States and China represent the biggest ri...
FILE PHOTO: Australia's new Reserve Bank of Australia Governor Philip Lowe leaves a parliamentary economics committee meeting in Sydney, September 22, 2016. REUTERS/Jason Reed
Lowe said the U.S.-China trade war was hurting global investment, wages and economic growth, the Sydney Morning Herald reported, citing sources who attended the business event. The remarks came as U.S. President Donald Trump ratcheted up tensions with China, saying the Asian giant had to be taken on even if it caused short-term harm to his country’s economy.The RBA, which has slashed interest rates by 50 basis points since June to an all-time low of 1%, has recently sounded alarm bells on growing uncertainties from the ongoing trade war.
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