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RBA Stevens: Remarks to ASIC Annual Forum 2016

RBA’s Glenn Stevens, speaking at the ASIC Annual Forum in Sydney, said there’s more room to ease policy than most should a serious downturn occur.
Local economy improving, financial system more resilient
Recent data showed economy picking up at turn of the year
Business surveys still upbeat this year, jobs data more ambiguous
Australia has room to take fiscal, monetary steps were there to be another global crisis
Australian budget in structural deficit, needs to be addressed over time
Domestic businesses, labor market much more flexible than in the past
Local banks’ asset quality improving, no trouble in accessing capital markets
Tighter rules on home investment loans helpful in cooling house prices
Aggressive expansion by foreign banks in Australia could lead to risks
Lower oil prices a positive shock for many consumers around the world

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