RBA's Stevens on regional financial arrangements

In a speech on 'Regional Financial Arrangements: Recent Developments' given on 15 April, Glenn Stevens of the RBA said a key reason for wanting well-developed capital markets is that having a diversity of funding sources for governments, businesses and individuals, and a diverse range of opportunities for investors, is advantageous.

"Australia's experience is that the 'embrace of the market' in this way can, on occasion, be uncomfortable. Markets will routinely react, and on occasion over-react

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