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RBA governor Glenn Stevens defends case for raising interest rates
RESERVE Bank governor Glenn Stevens has warned Australia's two-speed economy will get worse before it improves, indicating the bank intends to raise interest rates in the future to keep inflation under control. In a speech to the Economic Society of Australia in Brisbane today, Mr Stevens outlined the case for “some degree of restraint” as a result of the mining boom and the strongest business investment cycle in a generation. Mr Stevens said while the windfall from the mining boom for consumers was not obvious, most Australians were benefiting from a higher Australian dollar and low unemployment. Financial ... (full story)
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