RBA's Lowe: Australia needs to keep strong trade relationship with China

Reserve Bank of Australia's Governor Phillip Lowe is participating on the panel at the Australian’s 2020 Strategic Forum.

He has said that Australia needs to keep a strong trade relationship with China.

Yesterday, Lowe said that the RBA would consider negative interest rates only if all major central banks took their rates below zero, an "incredibly unlikely" scenario.

Lowe reiterated that negative rates were still "extraordinarily unlikely" in Australia, adding that the only benefit of sub-zero monetary policy was downward pressure on the country's currency.

More to come...

About Lowe

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.