Reserve Bank deputy governor Guy Debelle says the central bank's interest rate cut to 0.10 per cent and $100 billion quantitative easing policy has already started working, delivering immediate benefits to borrowers and staved off a bigger jump in the Australian dollar.
Dr Debelle acknowledged the hit to deposits but said that overall the monetary policy was clearly a positive.
Loading...
Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
