RBA chief sees below-average growth period for Australia
But weaker currency, policy support will cushion impact
Sat, Mar 21, 2015 - 5:50 AM
MR STEVENS: 'Fed policy is still likely to be quite expansionary for some time,' he said. 'The punch bowl isn't being taken away, its contents are just being made a little less potent.'
AUSTRALIA is likely to have a period of below-average economic growth as it undergoes a "major transition", though a weaker currency and policy support will cushion the impact, central bank governor Glenn Stevens said.
"The massive run-up in resources sector capital spending...