Swings in AUD helped combat inflation – RBA’s Stevens

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - Reserve Bank of Australia (RBA) Chief Glen Stevens is now on the wires via Reuters, speaking at the Australia-Israel Chamber of Commerce breakfast, in Perth. Mr. Stevens is seen commenting on the overall Australia’s economic outlook and the exchange rate level.

    Key Quote:

    Australia terms of trade may fall further

    More adjustment in resources sector is ahead

    Sometime before difficult resources adjustment is over

    Economic outlook for continuation of moderate growth

    New growth opportunities from rise in Asia’s middle class

    India growth potential opportunity for Western Australia

    Weak demand, more supply behind commodities' price falls

    Overall economic growth has been a little disappointing in recent years

    But economic outcome of mining boom cycle "quite respectable" so far

    Swings in a$ have helped avoid damaging cycle of inflation and bust
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