RBA gov Stevens in a scheduled speech to the Australian Business Economists
- expects "very low" global rates for much of the decade
- inflation isn't a barrier to easing if necessary
AUDUSD dips to 0.7190 from 0.7210 in a knee-jerk on the comments but rebounds just as quick to 0.7207 as I type
Full speech here from the RBA website
In his conclusion to a long, generally upbeat, speech revolving around long term forecasting he sums up by saying
"But, finally, human nature won't change. That means that we, as human beings, will be irresistibly drawn to those who claim to be able to forecast the future, beat the market, and give us the illusion of certainty and control"
Possibly some of the best words he's uttered.
RBA's Stevens with one eye on the Aussie $