More on RBA Governor Lowe's speech overnight - what he said on QE

Reserve Bank of Australia Governor Lowe spoke during London time Tuesday.

• RBA's Governor Lowe remarks on Australia's economy 'reaching a gentle turning point'

• RBA Gov Lowe spoke Tuesday - opinion varies if he signalled an imminent rate cut

• RBA Governor Lowe sounded more optimistic than the market expected
• He noted, "after having been through a soft patch, a gentle turning point has been reached" and he added "the fundamental factors underpinning the longer-term outlook for the Australian economy remain strong."
• he refused to be drawn on pricing for an October rate cut.

• In the Q&A he said that the Bank would consider QE in some circumstances, adding it was unlikely, but possible

• Following the speech, the market lost some conviction of another cut as soon as early October, with the probability falling from 80% to 60%. This moved helped support the AUD, which has made a few probes above 0.68 since the speech, overriding the negative vibe on US-China trade negotiations