Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Australia will weather crisis: RBA

Staff Reporter 1 minute read

The outlook for the economy has deteriorated but is not as bleak as some commentary suggests, Reserve Bank governor Glenn Stevens has assured.

Speaking at a dinner last night Mr Stevens conceded that Australia faced difficult times and growth was likely to be “at quite a slow pace” for a while but said prospects had not deteriorated “to the extent that might be suggested by some of the gloomy talk that is around”.

Mr Stevens said policy makers and regulators would need to “stand ready to act promptly” when needed but warned Australia should not abandon its well-established policy frameworks that have positioned Australia so strongly.

“If businesses remain focuses on the long-term opportunities; if markets and commentators do the same; if banks remain willing to lend on reasonable terms for good proposals; if governments are able to so order their affairs as to continue supporting worthwhile...public investment...then Australia will come through the present period,” Mr Stevens said.

Published: 20-11-08

Advertisement
Advertisement

Australia will weather crisis: RBA
default
TheAdviser logo
default
more from the adviser
first home buyers ta Brokers wrote half of FHLDS loans

The latest figures for the FHLDS suggest that brokers assisted in...

percent arrow down ta Low repayment loan for brokers launches

Specialist lender TrailBlazer Finance has launched a new low repa...

handshake contract ta PLAN bolsters lending panel

The aggregator has announced the addition of Better Choice Home L...

FROM THE WEB