Reserve Bank of Australia assistant governor Christopher Kent: the weaker Aussie provides would support local business

Market news

16 September 2014

Reserve Bank of Australia assistant governor Christopher Kent: the weaker Aussie provides would support local business

The RBA assistant governor Christopher Kent said at the Bloomberg Economic Summit in Sydney on Tuesday that the weaker Aussie provides would support local business. But he added that it is hard to know where the exchange rate of the Australian dollar should be.

The RBA assistant governor said non-mining business investment is expected to grow at a modest pace in 2014-15.

Mr. Kent noted that the strong Aussie had been a positive factor for investment in some sectors.

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European stock markets mid session: stocks traded lower, waiting for results of the Fed’s policy meeting

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