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- Reserve Bank of Australia (RBA) assistant governor Guy Debelle: the Aussie was still too high despite the decline in September
Reserve Bank of Australia (RBA) assistant governor Guy Debelle: the Aussie was still too high despite the decline in September
The Reserve Bank of Australia (RBA) assistant governor Guy Debelle said at the Citi Annual Australian and New Zealand investment conference in Sydney:
- The Aussie was still too high despite the decline in September;
- "The exchange rate is thus offering less assistance than would normally be expected in achieving balanced growth in the Australian economy. A lower exchange rate would be helpful in achieving that objective";
- The next sell-off in global fixed-income markets could be "relatively violent";
- Monetary policies in "the U.S., China, Europe and Japan are moving in divergent directions";
- "It is challenging for foreign exchange markets and it creates a complicated environment for setting monetary policy in other parts of the world, including here in Australia";
- Volatility picked up in foreign exchange markets but "it has not yet returned to a 'normal' level of volatility".
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