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Australia

"Leaning against the wind" to rise - Stevens

Glenn Stevens, the governor of the Reserve Bank of Australia, expects the view that monetary policy should "lean against the wind" when asset prices are rising will gain in followers in the aftermath of the current market turmoil.

Papua New Guinea's Kamit praises polymer

The benefits of polymer banknotes are their cost-effectiveness, durability and greater ability to withstand counterfeiting, said Wilson Kamit, the governor of the Papua New Guinea.

RBA justifies November cut

An attempt to reduce the risk of a sharp weakening of demand was behind the Reserve Bank of Australia's cut in the cash rate by 75 basis points to 5.25%, according to minutes of the November meeting.

Phillips curve is flattening

A new paper from the Reserve Bank of Australia finds that the Phillips curve, which measures the relationship between unemployment and inflation, has flattened in recent years.

Reserve Bank of Australia - Annual Report 2007

The sound position of local banks was a major source of strength for the Australian financial system during last year, said Glenn Stevens, the governor of the Reserve Bank of Australia, in the foreword the central bank's latest Annual Report.

RBA hints at September cut

Ric Battelino, the deputy governor at the Reserve Bank of Australia, on Thursday gave the central bank's strongest sign yet that it will cut rates at its next monetary policy meeting on 2 September.

RBA's Lowe on financial cycles

Proposals for banks to accumulate capital buffers in the good times might help smooth out the swings in the credit cycle, said Philip Lowe, an assistant governor of the Reserve Bank of Australia.

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