RBA’s Stevens Suggests Interest Rates Aren’t Moving Soon

The seemingly unshakable code of central bankers everywhere avoiding public references to where interest rates will go next may have been broken by the top dog at Australia’s central bank.

In an interview with the Australian Financial Review, Glenn Stevens, governor of the Reserve Bank of Australia, strongly suggested interest rates, already at a record low of 2.5 percent, aren’t likely to move anytime soon.

“If you think that confidence is the thing that is kind of the missing ingredient [for Australia's economy], then what can we do for confidence? The answer that I came up with is we could be steady and predictable and be clear about that,” Stevens said, according to a transcript of the interview.

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