The Reserve Bank of Australia (RBA) would consider negative interest rates only if all major central banks took their rates below zero, an "incredibly unlikely" scenario, Governor Philip Lowe said on Monday.
Lowe reiterated that negative rates were still "extraordinarily unlikely" in Australia, adding that the only benefit of sub-zero monetary policy was downward pressure on the country's currency.
Lowe was responding to questions following a speech in Sydney.
(Reporting by Swati Pandey and Wayne Cole; Editing by Catherine Evans)
