Reserve Bank of Australia Sees Inflation Below Goal
Averting dangerously low inflation looms as priority one for Philip Lowe, Australia’s incoming central bank governor. One challenge: he’ll be inheriting the least scope ever to cut interest rates. Lowe is set to begin his seven-year term with the benchmark rate already at a record-low 1.75 percent. When outgoing Governor Glenn Stevens took the helm, it was 6 percent and reached 7.25 percent in 2008. Some of Australia’s peers have seen dramatic transformations since then, with their balance sheets swelling as they undertook quantitative easing. Societe Generale Global Strategist Kit Juckes discusses with "On the Move" host Guy Johnson.
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