Deficits are not always bad: RBA’s Debelle

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Guy Debelle, the assistant governor of financial markets at the Reserve Bank of Australia, on Friday said current account deficits are too often wrongly perceived as bad and the source of global imbalances.

At an address to a workshop on growth and integration in Asia in Adelaide, Australia, Debelle said: "Current account deficits have a bad reputation, which is not always warranted. While some current account positions are the result of distortionary policies that should be redressed, others

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