RBA deputy welcomes ‘considerable’ exchange rate adjustment
Philip Lowe highlights flexibility of the exchange rate, labour market and monetary policy
The "flexibility" of the Australian economy is helping it adjust to falling mining investment and terms of trade, Reserve Bank of Australia (RBA) deputy governor Philip Lowe argued today (September 9).
Lowe told the Committee for Economic Development of Australia the economy was adjusting to the "downswing" while still managing to grow at a "moderate" pace. This is in large part due to the flexibility of the exchange rate, he said, which – although slow to move at first – has now "adjusted
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