The Reserve Bank of Australia (RBA) assistant governor Guy Debelle said at the Citi Annual Australian and New Zealand investment conference in Sydney:

• The Aussie was still too high despite the decline in September;
  
• "The exchange rate is thus offering less assistance than would normally be expected in achieving balanced growth in the Australian economy. A lower exchange rate would be helpful in achieving that objective";
  
• The next sell-off in global fixed-income markets could be "relatively violent";
  
• Monetary policies in "the U.S., China, Europe and Japan are moving in divergent directions";
  
• "It is challenging for foreign exchange markets and it creates a complicated environment for setting monetary policy in other parts of the world, including here in Australia";
  
• Volatility picked up in foreign exchange markets but "it has not yet returned to a 'normal' level of volatility".