February 6, 2019 / 2:40 AM / in 2 months

Australia's central bank governor says housing downturn will not derail economy

FILE PHOTO: Australia's new Reserve Bank of Australia (RBA) Governor Philip Lowe speaks at a parliamentary economics committee meeting in Sydney, September 22, 2016. REUTERS/Jason Reed

SYDNEY (Reuters) - Australia’s house price correction is manageable and the ongoing downturn is unlikely to “derail” the economy which is in its 27th year of recession-free expansion, the country’s top central bank official said on Wednesday.

Reserve Bank of Australia (RBA) Governor Philip Lowe was responding to media questions following a speech in Sydney where he signalled interest rates could go lower, a shift in the RBA’s long-held stance that sent the local dollar sliding.

Reporting by Swati Pandey and Wayne Cole; editing by Richard Pullin

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below