Swings in AUD helped combat inflation – RBA’s Stevens

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

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.

(Market News Provided by FXstreet)