RBA Governor Stevens Comments
RBA GOVERNOR STEVENS: AUSTRALIA’S ECONOMY IS IN RECESSION; SEES SIGNS OF RECOVERY IN CHINA
- Terms of trade to fall but unlikely to reverse recent years’ gains
- Long term economic prospects remain good
- Global economy is in much worse state than in 2001-02 recession
- Effects of monetary, fiscal stimulus to come through for some time yet
- Global growth to be lower than in prior decade for some time




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