SYDNEY, Dec 18 (Reuters) - Australia's central bank chief said on Wednesday the bank is prepared to cut interest rates further if sensible and needed, but current low borrowing costs are not holding back the economy right now.
'Interest rates are very low now, I'm not saying that we're not prepared to lower them further if it is sensible and required to do that we will,' Stevens told lawmakers in his twice-yearly parliamentary testimony in Canberra.
'As we sit here right now, I don't think there is too many people saying that interest rates are so punishing it's holding the economy back.'
(Reporting by Ian Chua; Editing by Chris Gallagher) Keywords: AUSTRALIA RBA/RATES
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