RBA's Lowe: Australia unlikely to get to the point where it needs QE

QE is "not on our agenda" at this point

QE would only be considered should cash rate reach 0.25%

There may come a point when QE would help but I "don't expect us to get there"

Still expects economy to move in the right direction, albeit gradually

QE would be considered if evidence accumulates that we were unlikely to meet policy goals

Need evidence that moving away from, rather than towards, goals for full employment, inflation

Board would then consider buying government bonds as only QE measure

Would hope other public policy options were also on the agenda

Use of all QE measures could create "inaction" bias for other policy makers

Negative interest rates in Australia are extraordinarily unlikely

We have no appetite" to make outright purchases of private sector assets as part of qe

No need to provide extra liquidity through market operations

International experience suggests QE does put downward pressure on both rates and exchange rate

Would need to balance these positive effects with possible side-effects

Would need to consider effects of bond buying on market functioning

Strong evidence that various central bank liquidity measures worked during crisis

Less convinced that other unconventional measures worked, jury still out