Australia: Stevens: Reduced rates are not exhausted their benefits

Glenn Stevens, president of the Reserve Bank of Australia has described the current monetary policy as "quite mild", noting that the potential reduction in rates has not been exhausted, and business confidence is still receiving support from lower borrowing costs. "The rate is quite low, even more, in nominal comparison, very low, judging by our history," - said Stevens. Households most actively react to reduce rates, a recent survey showed that demand for loans from consumers is, although at a low level, but in comparison with other sectors, activity in the consumer sector is high. Describing the recent forecasts of the Government on reconstruction in the next year, Stevens called them a realistic, noting that growth in the year-end is possible, but the start date recovery, he did not assume.