RBA rules out negative interest rates but how about zero?

Charbel Kadib reports “Negative interest rates out of the question: RBA” for Mortgage Business:

… the central bank ruled out further cuts to the cash rate as a means to curbing the economic impact of the outbreak.

“Members also agreed that the cash rate was now at its effective lower bound,” the RBA stated.

“Members had no appetite for negative interest rates in Australia.”

Interesting that they didn’t specifically mention a zero interest rate though they do seem to consider that the cash rate is at its effective lower bound. To get to negative rates, the RBA would need to cut by 0.5% whereas they typically cut 0.25% at a time. However, they’re definitely implying that there won’t be any more cuts.