More from RBAA Reserve Bank of Australia Governor Lowe, speaking before the House of Representatives' Standing Committee on Economics

  • global central banks reacting to "deep structural shifts" where savings are elevated, investments depressed
  • not sure decision to lower rates in Australiaa has damaged consumer confidence
  • says lower interest rates "a real issue" for some Australians who rely on interest incomes
  • look forward to the day when economic conditions support interest rate rises
  • would not be considering raising rates until we are comfortable inflation, employment are within targets
  • too early to tell if we had got better outcomes by cutting interest rates earlier