RBA’s Lowe Pushes Back Against Bets on Early Rate Rises

The transcript discusses the Reserve Bank of Australia's monetary policy measures to support the economy during the Delta outbreak. It covers the bond purchase program, the roles of monetary and fiscal policy, and the impact of these measures on economic recovery. The RBA's approach to setting the cash rate based on actual inflation rather than forecasts is also explained, highlighting the need for wage growth to achieve inflation targets.

What measures are being taken to support the Australian economy during the Delta outbreak?

How much has the Australian government committed to purchasing government bonds each week?

What factors are contributing to the delay in economic recovery according to the Reserve Bank?

What role does fiscal policy play in response to the economic shock caused by the Delta outbreak?

What is the expected impact of the bond purchase program on the economic recovery?

What is the target cash rate set by the Reserve Bank of Australia?

What conditions must be met for the Reserve Bank to consider increasing the cash rate?