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Weekend interview with Australian Treasurer Morrison - against further RBA cuts

Australian Treasurer Scott Morrison was interviewed by The Australian Financial Review on the weekend.

  • Signalled he opposes more interest rate cuts by the Reserve Bank of Australia
  • Says monetary policy has "exhausted its effectiveness"
  • Instead of RBA rate cuts, the government needed policies to "boost incomes and lift living standards"
  • "What's more important for our economy is getting on with our fiscal consolidation and bringing forward productivity-enhancing reforms"

While favouring fiscal policy action over further RBA cuts, Morrison said rates are a "matter for the RBA"

  • and "There's clearly more room there if that's what the Reserve Bank governor and board thinks is necessary."

AFR piece is here, may be gated: Scott Morrison: No more RBA interest rate cuts

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I posted earlier on S&P on Australia: S&P's "startling warning" on Australian debt

Morrison got an audience with Yellen

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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