JPM - JPMorgan Chase & Co.

NYSE - NYSE Delayed price. Currency in USD
+0.09 (+0.07%)
At close: 4:00PM EST

134.50 0.00 (0.00%)
After hours: 5:39PM EST

Stock chart is not supported by your current browser
Previous close134.41
Bid134.34 x 1100
Ask135.00 x 800
Day's range132.88 - 134.77
52-week range91.11 - 135.78
Avg. volume10,597,643
Market cap422B
Beta (3Y monthly)1.22
PE ratio (TTM)13.28
EPS (TTM)10.13
Earnings date14 Jan 2020
Forward dividend & yield3.60 (2.68%)
Ex-dividend date2019-10-03
1y target est124.08
  • Why Wells Fargo’s Mike Mayo is ‘banking on tech’
    Yahoo Finance

    Why Wells Fargo’s Mike Mayo is ‘banking on tech’

    When it comes to investing in bank stocks, a flattening yield curve, Fed rate cuts and illiquid capital markets are typically considered red flags that send investors running for the hills. 

  • Business Wire

    JPMorgan Chase Declares Common Stock Dividend

    The Board of Directors of JPMorgan Chase & Co. (NYSE: JPM) ("JPMorgan Chase" or the "Firm") declared a quarterly dividend on the outstanding shares of the common stock of JPMorgan Chase. Information can be found on the Firm’s Investor Relations website at

  • Morgan Stanley Slashes 2% Jobs Amid Tough Operating Backdrop

    Morgan Stanley Slashes 2% Jobs Amid Tough Operating Backdrop

    Morgan Stanley (MS) is reducing workforce to control expenses as its top line is likely to be under pressure in the coming days.

  • JPMorgan seeks $1 billion for mezzanine debt fund - Bloomberg

    JPMorgan seeks $1 billion for mezzanine debt fund - Bloomberg

    JPMorgan declined to comment. Mezzanine debt, a hybrid of debt and equity financing, gives the lender the right to convert to an equity interest in the company in case of default, after other senior lenders are paid. Often unsecured, it typically demands a much higher yield than senior debt.

  • JPMorgan Seeks $1 Billion for Mezzanine Debt Fund

    JPMorgan Seeks $1 Billion for Mezzanine Debt Fund

    (Bloomberg) -- JPMorgan Chase & Co. is raising money for a mezzanine fund through its asset- and wealth-management arm, according to people with knowledge of the matter.The firm is looking to raise as much as $1 billion from investors for a fund that would focus on providing financing to companies using a hybrid of equity and debt, said one of the people, who asked not to be identified because the information isn’t public. The bank has already raised a significant portion of its target, one of the people said.The decision caps years of discussion about how to bridge a gap in the asset manager’s alternatives offerings after JPMorgan spun out the credit manager formerly known as Highbridge Principal Strategies in early 2016, leaving it without a mezzanine fund, said one of the people. At the time, JPMorgan considered raising its own fund but shelved the plans because it didn’t want to compete with HPS while it maintained a minority stake in Highbridge’s private-equity business, the person said.A JPMorgan spokeswoman declined to comment.The new fund is part of a strategy to boost the bank’s $150 billion alternatives business as investors increase allocations to private equity, real estate and private credit offerings. Mezzanine funds invest in the riskier portion of the capital structure in exchange for higher returns.Still, fundraising for mezzanine strategies has taken a hit as managers have struggled to put cash to work amid competition from other products like unitranche financing, according to a November report from Ernst & Young.Earlier this year, JPMorgan changed the focus for its $2 billion multistrategy Highbridge fund -- converting it into a credit-only vehicle.Mezzanine financings are typically used in private debt deals to midsize companies that are too small to tap capital markets.\--With assistance from Alan Goldstein.To contact the reporters on this story: Michelle F. Davis in New York at;Lisa Lee in New York at llee299@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at, Dan Reichl, Steve DicksonFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • AutoZone, Oracle, Costco, Adobe Systems and JPMorgan are part of Zacks Earnings Preview

    AutoZone, Oracle, Costco, Adobe Systems and JPMorgan are part of Zacks Earnings Preview

    AutoZone, Oracle, Costco, Adobe Systems and JPMorgan are part of Zacks Earnings Preview

  • Bloomberg

    Xerox Woos HP Holders With $1.5 Billion Sales Growth Target

    (Bloomberg) -- Xerox Holdings Corp. believes its proposed HP Inc. takeover would create as much as $1.5 billion in potential revenue growth, according a presentation to HP’s shareholders made public Monday.The printer maker outlined its case for a tie-up between the companies, arguing the combined firm will be worth about $31 a share to HP investors on a pro-forma basis. The merged entity will generate more than $4 billion in free cash flow in the first year before taking any synergies into account, according to the presentation, confirming a report in Bloomberg News.“The value of the transaction goes beyond economics. In consolidating industries, first movers not only win but also have an opportunity to reshape the competitive landscape in an enduring way,” John Visentin, Xerox’s chief executive officer, said in the presentation.Xerox has already said it believes the combination would create roughly $2 billion in synergies, which it argues could be achieved in 24 months. Those savings could be achieved through streamlining their operations by reducing the number of suppliers the combined company would use, cost reductions on information technology and reducing its real estate footprint, among other measures.The presentation for HP shareholders goes further, saying a merger of their operations would allow cross-selling and a unified platform for clients. That could yield an estimated $1 billion to $1.5 billion revenue growth, Xerox said.To get to this amount, Xerox says it has a three-year roadmap that includes generating $540 million to $750 million from pitching complementary products to existing clients, $50 million to $100 million from manufacturing and distribution efficiencies and $350 million to $400 million from integrating HP products into Xerox’s office-as-a-service offerings.It also said there could be $300 million to $400 million in growth from Xerox’s services and software and $150 million to $300 million from offering Xerox’s leasing options to HP customers. A representative for Xerox declined to comment, while a representative for HP couldn’t immediately comment.HP’s shares were little-changed at $20.50 at 9:58 a.m. Monday, while Xerox rose less than 1% to $37.99.HP last month rejected an unsolicited, cash-and-stock offer from Xerox worth $22 per share, arguing it undervalued the company and citing concerns about the health of its smaller rival’s business. Xerox said it planned to take its case straight to HP’s shareholders after the Palo Alto-based hardware maker refused to grant the mutual due diligence it requested.The presentation to be released publicly Monday is the first step in that effort, and Visentin will start meeting some HP shareholders this week to sell the plan. Xerox has asked for three weeks of mutual due diligence in order to validate its case for a tie-up, noting in the presentation it expects no financing conditions and no regulatory risks.JPMorgan Chase & Co. analysts said this month that a merger carried risks and could cause some near-term downside in both stocks. Their Dec. 3 note added that the deal would leave investors more exposed to “a declining printer business.”Activist investor Carl Icahn, who owns as stake in both companies, called on HP last week to push ahead with the talks, calling the deal a “no-brainer.” He accused the company’s directors and management of seeking to preserve their own jobs instead of protecting shareholders’ interests. He argued HP’s standalone plans amount “to little more than rearranging the deck chairs on the Titanic.”Icahn is Xerox’s largest holder with a nearly 11% stake in the Norfolk, Connecticut-based company. He also owns a 4.2% of HP, making him its fifth-largest holder, according to data compiled by Bloomberg.(Updates with details of presentation starting in first paragraph)To contact the reporter on this story: Scott Deveau in New York at sdeveau2@bloomberg.netTo contact the editors responsible for this story: Liana Baker at, Fion Li, Ben ScentFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Fiverr Languishes Below IPO Price as First Chance to Sell Nears

    Fiverr Languishes Below IPO Price as First Chance to Sell Nears

    (Bloomberg) -- Fiverr International Ltd.’s initial zing has almost entirely faded since its June IPO, with the stock falling for six straight days to below its IPO price as insiders’ and early investors’ first chance to sell looms on Tuesday.The biggest stakeholders include Viola Private Equity’s Jonathan Kolber, Deer VII & Co., Accel London III Associates, Square Peg Group, and co-founder and chief executive officer Micha Kaufman, according to data compiled by Bloomberg. But post-IPO stock weakness, with shares off the June high of $44 by more than 52%, make it less likely shareholders will walk away.Fiverr chief Kaufman was unavailable to respond to queries.The operator of an online marketplace for software services had the fourth-best debut of this year’s 239 IPOs, rising a whopping 90% from offer to its first close. That ranks just behind Beyond Meat Inc., Adaptive Biotechnologies Corp., and Cortexyme Inc., each of which has done better hanging on to initial gains. Underwriters on the Fiverr IPO were JPMorgan, Citi, BofA, UBS, Oppenheimer, Needham, and JMP Securities.Analysts appear split, with four buy, three hold and no sell ratings on the stock, according to data compiled by Bloomberg. But with price targets ranging from $22 to $34, they seem to agree that debut highs are unlikely to be seen again anytime soon. To contact the reporter on this story: Crystal Kim in New York at ckim426@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at, Scott SchnipperFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • BB&T-SunTrust Merge to Form 6th Biggest Bank Truist Financial

    BB&T-SunTrust Merge to Form 6th Biggest Bank Truist Financial

    Truist Financial, the sixth largest bank in the country, is likely to give significant competition of other big banks.

  • What Is Really to Blame for the Repo Market Blowup

    What Is Really to Blame for the Repo Market Blowup

    (Bloomberg Opinion) -- The Bank for International Settlements — the central bank of central banks — has weighed in with its analysis of what went wrong in mid-September when the U.S. repurchase market all of a sudden dried up (for the first time in a decade). It looks like it has missed the point.While pointing the finger at a raft of different reasons and players, notably hedge funds, BIS doesn’t really answer the salient questions: Why haven’t the elevated funding rates that arose in September gone away and what can be done to prevent something like the original event from happening again?There are obvious quick fixes with which the U.S. Federal Reserve and Treasury have responded swiftly, such as ensuring extra liquidity on tax deadline or auction payment days. But the wider problem is that the post-crisis regulation of banks has become too rigid, and that is going to need addressing at some point.The repo market is the plumbing of the financial system where government securities are lent and borrowed for periods ranging from overnight to several months. This constant access to liquidity greases the wheels of government securities and the wider credit markets. Since the global financial crisis, cash has always been plentiful, so when repo rates all of sudden jumped as high as 10% in September, it was a rude awakening.The Fed has been in full firefighter mode ever since — along with the U.S. Treasury — to try to make sure the spike in rates isn’t repeated over the critical year-end funding period. But short-term liquidity is no substitute for a proper long-term fix. With a Dec. 16 tax payment day looming (a day on which cash is naturally drained from the banking system), and with the repo rate over the year end more than double the Fed rate of 1.5%-1.75%, this is not proving to be a temporary problem.It is in fact a confluence of systemic issues; it’s not just down to the too-swift reduction of the Fed’s bond holdings from the Quantitative Easing programs or a sudden abundance of new Treasury bonds for sale.Similarly trying to blame hedge funds for their arbitraging activities misses the point: This is meant to be the world’s most liquid money market. Extending the overnight secured repo market to longer-term dates could rapidly ease much of this funding bottleneck.The biggest four U.S. lenders own more than 50% of the Treasuries in the banking system but only one-quarter of all cash reserves. They have to hold this level of U.S. government bonds as high-grade collateral to satisfy regulatory requirements, but that restricts how much they offer into the repo market even when rates are temptingly high. This is a phenomenon that Jamie Dimon, JPMorgan Chase & Co’s chief executive officer, has been quick to point out. Another question is why the rest of the U.S. banking system has backed away from the repo market? Again, this is down to regulation and market structure, which has made the repo market a less efficient use of banks’ capital. Regulatory measures put in place by the Dodd-Frank Act need revisiting.To contact the author of this story: Marcus Ashworth at mashworth4@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. He spent three decades in the banking industry, most recently as chief markets strategist at Haitong Securities in London.For more articles like this, please visit us at©2019 Bloomberg L.P.

  • Previewing the Q4 2019 Earnings Season

    Previewing the Q4 2019 Earnings Season

    Previewing the Q4 2019 Earnings Season

  • Reuters

    JPMorgan banker testifying for cartel prosecutors says there was no agreement

    A prosecution witness in an Australian criminal cartel case against Citigroup Inc and Deutsche Bank AG said on Friday that the banks never colluded, but that he helped a regulator build its case to get immunity. The testimony from former JPMorgan Chase & Co markets head Jeff Herbert-Smith in court is a blow to the prosecution, which is relying on JPMorgan to support a case that the three global investment banks engaged in criminal cartel behaviour in a A$2.5 billion share issue for Australia and New Zealand Banking Group in 2015. The Australian Competition and Consumer Commission (ACCC), which brought the charges, accuses Citi and Deutsche and their client, Australia's fourth-largest bank, of withholding details of the sale to support the stock's price.


    Stocks – Wall Street Rises Modestly Ahead of Jobs Report – Stocks managed to rise for a second day in a row Thursday ahead of release of the important U.S. jobs report.

  • Chesapeake Jumps 16% on $1.5B Term-Loan Facility Securement

    Chesapeake Jumps 16% on $1.5B Term-Loan Facility Securement

    With term-loan proceeds, Chesapeake (CHK) will finance its tender offer for unsecured notes that were issued by its affiliates.

  • Major Regional Bank Stocks Outlook Rosy on Decent Loan Rise

    Major Regional Bank Stocks Outlook Rosy on Decent Loan Rise

    Major Regional Bank Stocks Outlook Rosy on Decent Loan Rise

  • Business Wire

    JPMorgan Chase, Envestnet l Yodlee Sign Agreement to Increase Customers’ Control of Their Data

    JPMorgan Chase (NYSE: JPM) announced today an agreement with leading data aggregator Envestnet l Yodlee to help protect customers’ financial data. The agreement will give Chase customers more visibility and control as they use financial apps.

  • Reuters

    Ex-JPMorgan banker began Australia regulator contact two years before Citi, Deutsche cartel charges

    JPMorgan Chase & Co began internal discussions that would lead to immunity from prosecution over a troubled Australian capital raising two years before two rivals were charged with criminal cartel behaviour, a court heard on Thursday. A former JPMorgan banker gave the timeline as the first witness to testify in a legal battle that is being closely watched by investment bankers around the world because it may change the way they are permitted to conduct capital raising. All but JPMorgan were charged last year with withholding details of the sale process to investors.

  • Software Developer JFrog Hires Banks for 2020 IPO

    Software Developer JFrog Hires Banks for 2020 IPO

    (Bloomberg) -- JFrog Inc., a technology company that makes tools for software developers, has hired Morgan Stanley and JPMorgan Chase & Co. to lead its initial public offering next year, according to people familiar with the matter.JFrog could seek a valuation of $2 billion or more in a U.S. listing, said the people, who asked not to be identified because the matter is private.Plans for an IPO aren’t final and JFrog could decide to remain private, the people said.Representatives for JFrog, Morgan Stanley and JPMorgan declined to comment.JFrog was co-founded in 2008 by former Israeli Air Force Major Shlomi Ben Haim, who remains its chief executive officer, according to the company’s website. The Sunnyvale, California-based company raised $165 million in a funding round last year that included investors Insight Venture Partners, Spark Capital, Battery Ventures and Dell Technologies Capital, according to a statement.Software companies have delivered some of this year’s best IPO returns thanks to their steady business models. Globally, shares of companies such as Zoom Video Communications Inc., Crowdstrike Holdings Inc. and Datadog Inc. have risen an average of 38% from their IPO offer prices this year, according to data compiled by Bloomberg.IPOs this year by consumer-facing internet-related companies including Uber Technologies Inc. and Lyft Inc. haven’t fared as well. Shares of those companies have fallen an average of 7.5% from their offer prices, the data show.To contact the reporter on this story: Crystal Tse in New York at ctse44@bloomberg.netTo contact the editors responsible for this story: Liana Baker at, Michael Hytha, Matthew MonksFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Should You Think About Buying JPMorgan Chase & Co. (NYSE:JPM) Now?
    Simply Wall St.

    Should You Think About Buying JPMorgan Chase & Co. (NYSE:JPM) Now?

    Let's talk about the popular JPMorgan Chase & Co. (NYSE:JPM). The company's shares led the NYSE gainers with a...

  • Business Wire

    Three out of Four Small Businesses in Miami Turn a Profit Yet Many Have Limited Cash Buffers, According to New JPMorgan Chase Institute Research

    Today, the JPMorgan Chase Institute released new research, showing the correlation among characteristics like home values, college education and the racial, ethnic, and foreign-born composition of Miami communities and significant factors of small business financial health. Given data from a sample of 52,000 businesses operating in all 178 Miami ZIP codes and a panel sample of 32,000 Miami small businesses active in 2013, the JPMorgan Chase Institute determined that, three out of four small businesses in Miami turn a profit, yet many have limited cash liquidity.

  • JPMorgan Fund Cuts Tencent as Slowdown Hampers Comeback

    JPMorgan Fund Cuts Tencent as Slowdown Hampers Comeback

    (Bloomberg) -- A top-performing JPMorgan fund focused on emerging-market stocks trimmed its bet on Tencent Holdings Ltd., selling shares of what was its largest holding in July as the Chinese technology company struggles to stage a comeback.JPMorgan Chase & Co.’s $6.5 billion Emerging Markets Equity Fund, which outperformed 94% of peers this year, reduced its position in Tencent by 14% as of Oct. 31, data compiled by Bloomberg show. Shares of Tencent, the largest company in Hong Kong’s Hang Seng Index by market capitalization, fell to a nine-month low on Oct. 30. JPMorgan declined to comment.Tencent has been trying to recover from 2018 losses after a nine-month Chinese freeze on game approvals gutted its most profitable business last year. Yet the stock dropped 16% in U.S. dollar terms from an April high as China’s economic slowdown weighed on efforts to revive growth. Even so, 50 of the 57 analysts tracked by Bloomberg recommend investors buy the stock.While trimming its Tencent exposure, its fifth-biggest holding, the JPMorgan fund boosted wagers on Budweiser Brewing Company APAC Ltd., ITC Ltd. and Bank Rakyat Indonesia Persero Tbk PT, the data show. The fund also added 2% to its position in Alibaba Group Holding Ltd., currently its top holding.(Updates to add chart)\--With assistance from Sofia Horta e Costa and Stephen Tan.To contact the reporter on this story: Andres Guerra Luz in New York at aluz8@bloomberg.netTo contact the editors responsible for this story: Carolina Wilson at, Alec D.B. McCabe, Philip SandersFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • U.S. Yields Will Sink to 1.2% as Recession Hits, SocGen Says

    U.S. Yields Will Sink to 1.2% as Recession Hits, SocGen Says

    (Bloomberg) -- Treasury 10-year yields may slide to a record low 1.2% by the end of next year as the U.S. enters a recession, according to Societe Generale SA.Benchmark 10-year Treasuries will probably rally as the Federal Reserve cuts interest rates by a full percentage point in the first half of 2020 to spur inflation, strategists including Subadra Rajappa wrote in a note.“The market is pricing in a Fed hold, but 10 years into this expansion, we see the Fed leaning toward a more accommodative stance,” the analysts wrote. “We expect a steady decline in Treasury yields in 2020.”Treasuries have led a global bond sell-off since September as the U.S. and China edged toward a partial trade deal, and expectations for the Fed to add to its three rate cuts this year fade. SocGen joins others, including Japan’s Asset Management One Co., in arguing that the recent optimism is misplaced.Asset Management One said last month that the Fed will end up lowering its interest rates toward zero due to structural changes in the economy and low inflation.Others are less certain yields will keep falling. JPMorgan Chase & Co. sees 10-year yields rising to 2.05% next year as global economic growth ramps up. Goldman Sachs Inc. is forecasting yields to hit 2.25% by end 2020.Rates markets are pricing in one 25 basis point Fed rate cut by the end of 2020, swaps data shows.Yield ReboundYields on 10-year Treasuries have rebounded about 40 basis points since touching a three-year low of 1.43% in September.They were up 1 basis points to 1.834% Tuesday. They had risen as much as 8 basis points on Monday on better-than-expected China factory data, before paring after a miss on U.S. manufacturing data.“Beyond the trade war noise, structurally, we see the risk of lower yields outweighing the risk of higher yields,” according to SocGen’s strategists. “‘We recommend investors remain on high alert and retain long duration positions in bonds outright and as a hedge against risk-asset exposure.”(Adds bank forecasts in sixth paragraph, swaps pricing in seventh)\--With assistance from Cormac Mullen.To contact the reporter on this story: Ruth Carson in Singapore at rliew6@bloomberg.netTo contact the editors responsible for this story: Tan Hwee Ann at, Joanna OssingerFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Australia Keeps Rates on Hold at Record-Low 0.75%

    Australia Keeps Rates on Hold at Record-Low 0.75%

    (Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.Australia’s central bank kept interest rates unchanged as three cuts since June inject new life into the property market and raise the prospect of improved household spending and home-building.Reserve Bank Governor Philip Lowe kept the cash rate at 0.75% Tuesday, in line with expectations of economists and money markets. He’s conserving his remaining conventional ammunition -- estimated at two more rate cuts -- to monitor the impact of earlier easing and recent government tax rebates.The lower cash rate has “boosted asset prices, which in time should lead to increased spending, including on residential construction,” Lowe said in a statement. “Lower mortgage rates are also boosting aggregate household disposable income which, in time, will boost household spending.”The RBA’s final meeting of the year sees policy makers no closer to reviving wage growth and inflation, trends that have bedeviled central banks worldwide. Australia’s economy has decelerated in the past 12 months as households limit spending, and sentiment remains weak despite the increased cash flow from interest rate and tax cuts.However, the economy has kept advancing on strong population growth and state government infrastructure spending to keep pace with swelling cities. Hiring has remained resilient in the face of slowing growth, though the labor market isn’t tight enough -- with unemployment at 5.3% -- to spur the kind of wage gains the RBA wants.What Bloomberg’s Economists Say“The key message from the RBA board’s December Statement is that it’s going to take time. And with the ‘long and variable lags in the transmission of monetary policy,’ the Board is in no rush to dole out the remaining 50bp of conventional policy ammunition unless needed. With the currency remaining supportive, and the turnaround in housing markets alleviating one downside for household consumption, time is on the RBA’s side. Until February at least.”James McIntyre, economistThe Australian dollar edged up to 68.42 U.S. cents at 3:45 p.m. in Sydney, from about 68.20 cents before the decision. Traders are pricing in a more-than-50% chance of a cut at the RBA’s next meeting in February, with prominent economists such as JPMorgan Chase & Co.’s Sally Auld and Westpac Banking Corp.’s Bill Evans also predicting easing then.The currency, which has declined about 16% since early last year, is helping policy makers by improving export competitiveness.“The lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries,” Lowe said. “Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the board decided to hold the cash rate steady.”The clearest impact of easing has been in east coast house prices. Annualized gains over the past three months in the Sydney and Melbourne markets are tracking in the mid-20% range.Analysts expect data Wednesday will show the economy expanded an annual 1.7% in the third quarter, well short of the estimated trend pace of 2.75%.Global OutlookOn the international front, the RBA said risks remain tilted to the downside but have “lessened recently.” The U.S. and China are trying to work out an initial agreement on trade, offering hope of an eventual settlement to their trade dispute.Lowe noted that the domestic consumption outlook is a key unknown.“Other sources of uncertainty include the effects of the drought and the evolution of the housing construction cycle,” he said.Lowe faces difficult decisions ahead. He has little rate ammunition remaining and the government is reluctant to boost fiscal spending as it tries to return the budget to surplus. The governor has laid out what an eventual Australian version of quantitative easing might look like, though he doesn’t expect the central bank will need to choose that path.His bet is that the interest rate and tax cuts, combined with rising house prices, will encourage consumers to loosen their purse strings. Comprising some 55% of the economy, consumption is key to sustained growth. A lift in mining investment also could drive faster expansion.The board agreed “it was reasonable to expect that an extended period of low interest rates will be required in Australia,” Lowe said. “The board is prepared to ease monetary policy further if needed.”(Updates with money market forecasts in seventh paragraph.)\--With assistance from Tomoko Sato and Garfield Reynolds.To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.netTo contact the editors responsible for this story: Nasreen Seria at, Malcolm Scott, Michael S. ArnoldFor more articles like this, please visit us at©2019 Bloomberg L.P.

By using Yahoo, you agree that we and our partners can use cookies for purposes such as customising content and advertising. See our Privacy Policy to learn more