RBA says unlikely will need to employ unconventional policy measures

[SYDNEY] 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 per cent, was commenting in written responses to questions in writing 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.

REUTERS