RBA's Stevens says exchange rate disconnected from fundamentals
Australia's current exchange rate is not supported by the country's relative levels of costs and productivity, Reserve Bank of Australia (RBA) governor Glenn Stevens said today in a speech in Sydney.
Stevens added that the terms of trade were more likely to fall than rise, implying the Australian dollar will be "materially lower than it is today" in the not-too-distant future.
He also argued the exchange rate has had a significant impact on RBA's balance sheet, saying it "led to a decline in the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Debt Management
Sri Lanka secures deal to restructure $12.6bn of bonds
IMF still to review if deal conforms with Sri Lanka’s debt sustainability targets
Sri Lanka signs debt restructuring deals
Government reaches agreement with 17-nation group and China’s Exim bank
Sri Lanka considers new bonds linked to GDP and governance
Restructuring debt could link repayments to anti-corruption reforms
Pakistan repays bonds worth $1bn as it seeks fresh IMF loan
Debt-stricken country looks to secure about $6 billion in loans
BCRA ex-governor Caputo will be Argentina’s economy minister
Central bank halts sales of devaluation hedge bonds
IMF members will meet SDR interest payments, says paper
Fund publication notes interest rates on SDR rose sharply in last two years
Tunisian president wants central bank to directly finance budget
Central bank governor has rejected calls for monetary financing as observers warn of growing crisis
Zambia agrees foreign debt deal
Government agrees to repay faster if IMF assesses its ability to do so has risen