RBA governor Glenn Stevens has warned that a dangerous complacency about Australia’s economic growth is letting political leaders defer tough decisions on the budget and risking a much more serious downturn when the next one occurs. In an exclusive interview with The Weekend Australian, Mr Stevens said a myth had developed that Australia had a “miracle” economy that was somehow immune from the turbulence affecting the rest of the world. “We are creating a narrative here about the 23 years of no recession as though this is some miracle and we’ve advanced smoothly without any setback, but that’s not really true.” He ... (full story)