RBA's Glenn Stevens speaking at the ASIC Annual Forum in Sydney
- If there's a serious downturn
- Recent data showed the economy was picking up at the turn of the year
- Local economy improving and the financial system is more resilient
- No problems are seen in Australia
- Domestic business and labour market much more flexible than in the past
- Business survey data still upbeat this year but labour data more ambiguous
- Budget and structural deficit needs to be addressed over time
- Australia has room to take fiscal and monetary steps were there to be another global crisis
- Tighter rules on home loans are helpful in cooling house prices
- Lower oil prices are a positive shock for many consumers around the world
Nothing here for doves. AUDUSD jumps to 0.7609 from around 0.7585
