More from RBA's Stevens - Aussie banks small exposure to energy sector

Author: Eamonn Sheridan | Category: Central Banks

Reserve Bank of Australia Governor Glenn Stevens appearing before the House of Representatives' Standing Committee on Economics

More comments:

  • Sees no evidence that funding markets impaired for Australian banks
  • Says exposure of Australian banks to energy sector just few points of balance sheet, quite small

  • Says his instinct is that some of the global gloom is overdone, speculation of global recession is too pessimistic
  • Stevens says he has no comment on the outlook for the cash rate

No comment on cash rate outlook. Strange. Can someone please lend Glenn a coin to toss so he can formulate a view.


  • Some reservations about labour market data
  • Employment growth strong even after accounting for problems with data
  • Hard to avoid the conclusion that the jobs market is better than expected
  • Does not see rout in Australian property market - breather in prices welcome in Melbourne and Sydney property markets



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