RBA Stevens: sees promising early signs that can manage mining handover

• Sees promising early signs that can manage mining handover, but “far too soon” to declare success in transition from mining investment
• Says medium-term challenges will be fiscal sustainability, ageing population
• Need higher labour participation, greater productivity to meet challenges
• G20 growth goals should focus on reform, not easy money or fiscal adventurism
• Australia faces considerable long term challenges

Glenn Stevens, RBA Governor, addressing the American Chamber of Commerce in Australia (AmCham) iiNet Business Luncheon, in Brisbane.

Full text of speech: Economic Conditions and Prospects