Glenn Stevens says while global forecasts have been lowered due to market volatility and China’s slowing,Australia’s economy has held up relatively wellTurmoil on financial markets could dent global economic growth but Australia has a excellent chance of emerging unscathed, the head of the Reserve Bank says.
Global economic growth forecasts have been lowered in recent months due to volatility on share markets and signs of slowing growth in China, or the world’s moment-largest economy,RBA governor Glenn Stevens told the House of Representatives economics committee on Friday.
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Source: theguardian.com