RBA’s Stevens: Economic downturn will have long lasting implications
Glenn Stevens, the governor of the Reserve Bank of Australia, on Tuesday outlined some of the longer term consequences of the financial crisis to G20 countries.
Stevens said the fiscal burden taken on by countries at the centre of the financial crisis and the subsequent discretionary fiscal packages would have lasting consequences on their economies.
But, Stevens said, it was a third factor -the magnitude of the downturn and the initial slowness of recovery - that was going to have the largest
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