RBA assistant governor says investment boom is inflating currency


The investment boom in the Australian resources sector has caused large capital inflows into the country causing the currency to appreciate, according to a Reserve Bank of Australia (RBA) assistant governor.

Guy Debelle says "very little" of the investment has been funded through the banking sector, as resources companies are predominantly using internal cash flows.

Because a large share of these companies are foreign owned, Debelle explains, the funding is "reflected in large capital inflows

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