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RBA boss Glenn Stevens warns complacency will deepen downturn
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 ... (full story)
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