SYDNEY, Aug 6 (Reuters) - Australia’s central bank board recognised that fiscal stimulus was the “more appropriate instrument” for providing support in response to the temporary and localised hit to income from virus lockdowns, Governor Philip Lowe said on Friday. Lowe was speaking before a parliamentary economics committee via video call from Sydney. Earlier this week, the Reserve Bank of Australia (RBA)surprised markets by standing its ground on a decision to taper its bond buying programme from September, expecting the hit to the economy from the Delta variant of the coronavirus to be temporary. (Reporting by Swati Pandey and Wayne Cole; Editing by Jacqueline Wong) Our Standards: The Thomson Reuters Trust Principles.
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