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12/2/2020, 12:51 AM (Source: TeleTrader)
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RBA expects solidly positive growth in Q3, Q4 - gov

Reserve Bank of Australia Governor Phillip Lowe (pictured) speaking before the Australian Parliament's House of Representatives Standing Committee on Economics said he expects solidly positive economic growth in the final two quarters of the year despite the recovery likely to remain uneven.

Additionally, Lowe said there is a high degree of uncertainty about the pace at which the economy will pick up amid the pandemic but that it is extraordinarily unlikely for the board to set the nominal target interest rates with a negative value.

He added the central bank is prepared to do more if necessary in order to achieve its yield curve target and that addressing the high rate of unemployment is RBA's current priority.

Breaking the News / NL