Australia's high exchange rate supports consumers as petrol, imported goods and overseas travel turn cheaper, Reserve Bank of Australia Governor Glenn Stevens said Wednesday.
Addressing a forum in Brisbane, he said, "We shouldn't wish too quickly for a low exchange rate." "As consumers, the exchange rate is one of the devices that is imparting to us the higher wealth that the mining boom brings."
Further, he urged businesses to improve their productivity because it is the way out in terms of coping with a high exchange rate.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.