Australia central bank governor says scenarios on next rate move equally balanced

[SYDNEY] Australia's top central banker said on Wednesday he was confident lower rates would stimulate the country's economy, if needed.

The scenario for the next move in interest rates was roughly equally balanced, meaning it could go in either direction depending on the strength of the labour market and inflation, Reserve Bank of Australia (RBA) Governor Philip Lowe said.

Mr Lowe was responding to media questions following a speech in Sydney where he signalled interest rates could go lower, a shift in the RBA's long-held stance that sent the local dollar sliding.

REUTERS