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RBA's Stevens says Australia needs sustainable growth, not flash-in-pan

Published 08/25/2015, 09:09 PM
Updated 08/25/2015, 09:10 PM
Australia needs sustainablke growth, Stevens says

Investing.com - Australia needs sustainable growth not start and stall episodes, Reserve Bank of Australia Governor Glenn Stevens said Wednesday.

He said that this is especially true as the potential growth rate may be lower than previously thought in the post-financial-crisis world, in remarks to the National Reform Summit.

There may be a need to generate more growth but it must be the "sustainable" kind - not "flash in the pan," Stevens said. "The kind of growth we want won't be delivered just by central-bank adjustments to interest rates or short-term fiscal initiatives that bring forward demand from next year only to have to give it back then."

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