More from RBA Gov Lowe - no implications for the RBA from the RBNZ 50 point rate cut

Sees no immediate implications for the RBA

• RBNZ responding to same forces as the RBA is

Also:

• if other global central banks go to zero we'll have to consider that as well
• another scenario for zero rates is if the Australian economy weakens well below expectations
• would be very close to zero before we consider QE
• QE is a long way from central scenario

AUD not moving too much at all now.