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RBA's Lowe welcomes higher U.S. rates and stronger U.S. dollar

Reuters

NUSA DUA, Indonesia, Oct 11 (Reuters) - The Reserve Bank of Australia welcomes higher interest rates in the United States because that has allowed its own currency to weaken against the U.S. dollar, governor Philip Lowe said on Thursday.

"From Australia's perspective, we have been hoping for spillover effects for some years ...we have been frustrated for a number of years that the U.S. was not in a position to normalise," Lowe said.

"If there are spillover effects (for Australia) I think they are positive ones." (Reporting by Jan Strupczewski and Francesco Canepa; editing by Jason Neely)