Investing.com - A further cut in the Reserve Bank of Australia's cash rate is unlikely, Governor Glenn Stevens said on Wednesday, adding that at a record low 2.5% conditions are already accomodative.
"A very accomodative interest rate structure and a degree of stability and predictability have been in place for some time," Glenn Stevens said in a speech Wednesday in Adelaide.
On Tuesday, the central bank held rates steady, repeating language of a "period of stability" until more normal policy settings are considered.
At the Q&A session later, Stevens was asked what would lead to the RBA removing the "period of stability" language from the cash rate guidance. He didn't provide a direct answer, but said in a lighthearted comment: "I'd like to change it to something more vague. Something like policy remains appropriate."