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The Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe said at the Commonwealth Bank of Australia's 7th Annual Australasian Fixed Income Conference on Tuesday that "low rates have boosted asset prices globally", including the housing market in Australia.
He noted the RBA thinks that low interest rates in Australia are appropriate. Lowe pointed out that low interest rates in Australia "are helping boost construction activity and spending".
The RBA deputy governor also said that "very low global interest rates have been with us for some time. And it is likely that they will stay with us for some time yet".
"But the longer it runs on without a pickup in the appetite for real investment, the greater is the potential for new risks to develop", so Lowe.
Lowe noted that it is important to improve the investment climate, and it is the government policy to play the important role.
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