RBA Governor Stevens appearing before the Australian parliament's House of Representatives' Standing Committee on Economics
His earlier comments are here: RBA governor Stevens testimony: Further fall in AUD likely to occur
More now:
- AUD is more or less doing what we expect it to do
- Says he can think of reasons why the Australian dollar might go down, doesn't want to expand on that
- Says concluded the economy could do with some help, so we eased
- Says if thinks outlook has changed, best to get going with policy
More:
- Considered changing policy language in late 2014
- Not our job to ensure that nobody is surprised
- Don't think that Australia will end up with zero rates
More again:
- Trend of public debt needs to change in the medium term
- Reform in Australia is not easy, need to keep trying
- I think productivity growth has started to improve
- Enough spare capacity in economy that could grow above trend for a couple of years
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"Enough spare capacity in economy that could grow above trend for a couple of years" I suppose what he is really saying there, in that sexy central banker veiled message kinda way is that rates won't be rising for a couple of years.
