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RBA on Rates
SYDNEY, Aug 14 (Reuters) - Australia's central bank said on Thursday
that it was in the interest of the country's retail banks to lower lending
rates when the official cash rate is lowered.
The comments were made at a parliament meeting between lawmakers and
the Deputy Governor of the Reserve Bank of Australia (RBA) Ric Battelino
and Assistant Governor Philip Lowe.
Futures are pricing in an even chance of a 50 basis point cut in
September by the RBA. The cash rates is at a 12-year high of 7.25 percent.
