Downturn likely to be "shallow": Stevens

Posted on 16/08/2009  

Reserve Bank Governor Glenn Stevens says the economic downturn may turn out to be one of the "shallower" downturns Australia has seen. He says the economy has been resilient, with stronger activity, growing exports and rising demand from China. Stevens says the RBA will adjust the official interest rate from its current low levels "when the time is right".

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