Rates could to go zero, Reserve Bank governor Philip Lowe concedes

Reserve Bank governor Dr Philip Lowe has conceded that interest rates will stay lower for longer, and could even go to zero. 

Speaking at a parliamentary grilling in Canberra, Dr Lowe says Australia can't escape a world of falling interest rates which have already turned negative in Switzerland, Japan and Europe. 

ABC's Peter Ryan says Dr Lowe has warned wages should be recovering.