A lower corporate tax rate is not the "silver bullet" that will slay Australia's low-growth gremlins, the Reserve Bank says.

Deputy RBA governor Philip Lowe says lowering corporate tax rates to match other countries is not central to stimulating business activity.

"I think probably at the margin you could argue that but I think it would be incorrect to focus on corporate taxation as the solution here," Mr Lowe told a House of Representatives economics committee hearing on Friday.

"There isn't a single solution, it's working across a whole range of areas to create a pro-investment climate."

Mr Lowe said investment is low in all the advanced economies and it would be advances in technology that will drive increases in living standards.