RBA chief: Lower rates still capable of supporting demand
They can still help economy's transition, he says as he tells MPs why central bank cut rates last week
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Sydney
INTEREST rate cuts may not have the same power in boosting demand as they once had, but they can still help support an economy that is struggling through a period of below-trend growth, Australia's central bank chief said on Friday.
Speaking to lawmakers at his twice-yearly parliamentary testimony, Reserve Bank of Australia (RBA) governor Glenn Stevens said it was with this in mind that the bank decided to cut interest rates last week.
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