RBA’s Lowe Sees Weaker Boost to Growth If ‘Everyone Is Easing’

Australian central bank chief Philip Lowe threw his support behind those casting doubt on how effective a new round of monetary policy easing by major economies would be in supporting global growth.

Lowe, in a panel discussion in Canberra Monday, highlighted the shift in the past three months to markets pricing in interest-rate cuts for the U.S., euro area and Japan over the next year. The problem, he said, is that the exchange rate is an “important channel” through which easing stimulates growth.