That said, a lower exchange rate would definitely be beneficial for the Australian economy, so we are continuing to watch developments in the foreign exchange market carefully. A third option is to lower the current structure of rates in the economy a little more without going into negative territory.
The remuneration on ES balances is currently 10 basis points, the three-year yield target is at 25 basis points and the borrowing rate of the TFF is also 25 basis points. It is possible to further reduce these interest rates. A fourth option is negative rates. The Governor has talked about this before. [11] I will just make a few points here.