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RBA chief sees below-average growth period for Australia

But weaker currency, policy support will cushion impact

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...

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