Australia's central bank chief said on Friday that record low interest rates were helping the economy transition away from mining-led growth as well as can be expected and plotted a steady trajectory for monetary policy. Reserve Bank of Australia (RBA) Governor Glenn Stevens, at his twice yearly Parliamentary testimony, also noted that while the local dollar had fallen, it remained high by historical standards. But he made no fresh effort to talk down the currency. "At the present time we judge monetary policy to be doing the things it can reasonably be expected to do in the circumstances we face," Stevens told the ... (full story)