July 25, 2019 / 4:08 AM / 4 months ago

Australia central bank wants government to have strong agenda for investment, employment

SYDNEY (Reuters) - Australia’s central bank Governor Philip Lowe said on Thursday he would like the country’s newly re-elected government to have a strong agenda to drive investment and employment.

The Reserve Bank of Australia (RBA) has reduced interest rates twice since June to an all-time low of 1% and has repeatedly called on the government to provide fiscal support to prop up growth and inflation.

Lowe was responding to questions following a speech on ‘Inflation Targeting and Economic Welfare’ in Sydney.

Reporting by Wayne Cole and Swati Pandey; Editing by Kim Coghill

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