The Reserve Bank is relatively upbeat approximately Australia’s economic prospects in the face of falling commodities as the lower dollar helps domestic travelLast week the Organisation for Economic Co-operation and Development (OECD) revised down projections for China’s growth over the next two years,and the price of our major exports has fallen 30% in the past year. Despite this the governor of the Reserve Bank, Glenn Stevens, and remains upbeat approximately Australia’s economy. One of the reasons is the performance of the services sectors – notably the tourism industry. With a falling dollar,Australia has again become a good dwelling to visit – and an expensive dwelling to leave. Related: Mining boom gouged a wider wealth gap in Western Australia, report finds Continue reading...
Source: theguardian.com