Australia’s Stevens uncertain on response to commodity boom
Glenn Stevens, the governor of the Reserve Bank of Australia, on Wednesday said policymakers were unsure how to respond to the rise in Australia's terms of trade as they were unaware whether it is a temporary or a long-term phenomenon.
At the Victoria University in Melbourne, Australia, Stevens said: "If the rise in income is only temporary, then we should not respond to it with a big rise in national consumption," Stevens said. "If, on the other hand, the change is going to be quite long-lived
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