Reserve Bank of Australia Debelle comment on the Australian dollar
- Says every central bank would like a lower currency
- Says obviously not everyone can have a falling currency
- Says would like a lower AUD
Bloomberg add a bit more detail. Debelle's comments are in the Q&A following his speech, which was on regulation.
- "most central banks want lower currencies, to push up inflation or create a bit more activity,"
- "I don't think we're any different from that. But obviously everyone can't have the depreciating currency, that's what happens when you have relative prices"
- "So we would welcome a slightly lower exchange rate, like everyone else, in helping the rebalancing of our economy. But obviously not everyone can have that."
- Debelle's comments similar to RBA Deputy Governor Philip Lowe in Adelaide last week
I posted a little earlier on Debelle and his speech: RBA's Debelle: No comments on economy nor monetary policy so far
There is a link in that post to his speech. Which he obviously put a lot of time and effort into.
I wonder if he gets a bit cheesed off with putting so much work into new stuff only to be asked questions on where the aussie is going?
Sorta like this: