Philip Lowe: Today's reduction in the cash rate Speech by Mr Philip Lowe, Governor of the Reserve Bank of Australia, at the Reserve Bank Board Dinner, Sydney, 4 June 2019. * * * On behalf of the Reserve Bank Board, I would like to warmly welcome you to this community dinner. Thank you for joining us this evening.
Given the central importance of trade, it’s not surprising that investors are worried about what the data show. For roughly 20 years before the financial crisis, global trade had been  BIS central bankers’ speeches  1  expanding by more than 7 per cent a year – about twice as fast as the world economy.