Economics
RBA's Kent Says Recent Aussie Dollar Drop `Helpful' to Economy
- Driven by lower bond yields, slowed by commodity price gains
- Downside risks attracting greater attention from central banks
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The Australian dollar has been buffeted by cross-currents at home and abroad, but its decline has provided some support to growth, a senior central bank official said.
“While the exchange rate is still within the relatively narrow range of the past few years, the recent depreciation is helpful at the margin given that there remains spare capacity in the economy and inflation remains below target,” Reserve Bank of Australia Assistant Governor Christopher Kent said in a speech in Melbourne Friday.