Australia c.bank says unlikely will need to employ unconventional policy measures

Credit: REUTERS/DANIEL MUNOZ

Australia's central bank said on Wednesday that it was unlikely unconventional monetary measures will be needed in the country at this juncture, though it would consider them if needed.

SYDNEY, Sept 11 (Reuters) - Australia's central bank said on Wednesday that it was unlikely unconventional monetary measures will be needed in the country at this juncture, though it would consider them if needed.

The Reserve Bank of Australia (RBA), which has cut rates twice this year to a record low of 1%, was commenting in written responses to lawmakers' questions in parliament.

The RBA said if warranted, it would focus on reducing the risk-free interest rate which involves cutting the cash rate further and possibly buying long-term government bonds.

(Reporting by Swati Pandey; Editing by Kim Coghill)

((swati.pandey@thomsonreuters.com; +61 2 9321 8166; Reuters Messaging: swati.pandey.thomsonreuters.com@reuters.net; twitter.com/swatisays))

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