I posted this up during the London session last night but just recapping it for those who missed it:
An article in the Wall Street Journal quotes RBA board member Roger Corbett from an interview on Tuesday: “You don’t adjust fiscal and monetary policy, in my view, to force the dollar down because if you do that you will do enormous damage”
- Says the strength of the $A wouldn’t be a deciding factor in any decision to lower interest rates
- Says its important for Australia to boost growth in non-resources sectors
Europe is much better than it was, America is much better than it was, China is doing well,” he said. “I think we can look forward to quite a buoyant world economy in the next two to five years.”
RBA Board Member Resists Currency Pressure (WSJ – gated)
