RBA's Stevens negative on US and Aussie outlook

Both the United States and Australia face significant, but different, economic challenges, Glenn Stevens, the governor of the Reserve Bank of Australia, said on Friday.

"For the US, dealing with the fall-out of the financial excesses of the earlier years looms large at present. This is not made any easier by the simultaneous lift in global commodity prices, which raises consumer prices but, in the US, also dampens economic activity," Stevens said. "For Australia, the financial fall-out has been

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