RBA’s Stevens plays down Australian growth problems

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The governor of the Reserve Bank of Australia (RBA), Glenn Stevens, in a speech today (November 20) gave reasons to be positive about the outlook for the Australian economy.

Addressing the Committee for Economic Development of Australia, Stevens emphasised that Australia's mining boom was not about to collapse, and was rather adjusting from a historic high. "The uncertainty now is over whether it will peak at closer to 8% of GDP than 9%. What isn't uncertain is that either number is very high,"

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