RBA Stevens: Australian economy progressing, Aussie drop having effects

FXStreet (Bali) - RBA Governor Glenn Stevens appears in the Australian parliament today, before the House of Representatives Standing Committee on Economics, noting that the Australian economy is progressing through major adjustments.

Key headlines

Economy is progressing

Economy growing but not as fast as they would like

Adjustment in terms of trade well advance

Aussie drop is having effects

Monetary policy is seeking to support economic transition

Signs that non mining economy is improving

Rate of unemployment seems to have stopped rising

Unemployment lower than 6 months ago

Global rates quite low for some time