Dep gov on the wires giving a speech
- RBA "cognisant" of those risks when setting monetary policy
- mon pol not ultimately the driver of econ growth
- higher house prices not boosting consumer spending as much as past
- not in national interest to encourage borrowing-fuelled consumption boom
- household balance sheets a little riskier than in past
No talking down of AUD sees AUDUSD up to session highs of 0.7326 after 0.7215 post-PBOC lows
Add:
- multiple interpretations of China yuan move, one is unwinding of appreciation
- if it reflects genuine reform then it's good news
