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In a private meeting Tuesday evening, Bank of Australia President Lowe said trade tensions between the United States and China were the greatest risk to global economic stability.
The Sydney Morning Herald quoted sources involved in the business as saying that the US-China trade war had damaged global investment, wages and economic growth.
"I'm not very clear about the U.S. strategy. It's worrying to say that it's time for the West to deal with China, "the report said Lowe told business leaders.
At present, US President Trump escalated the trade war with China, saying that even if the US economy suffered short-term damage, it would have to compete with China.
The RBA did not immediately respond to Reuters'request for comment.
The Bank of Australia has cut interest rates by 50 basis points to a historic low of 1% since June, and has recently warned of the rising uncertainty caused by the ongoing trade war.
The minutes of the August policy meeting released by the RBA on Tuesday show that the committee discussed unconventional policies, including negative interest rates, and that the door to further easing remains open.

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