Reserve Bank of Australia Believes Domestic Economy Is Resilient

In his recent speech, Reserve Bank of Australia governor Glenn Stevens exuded confidence about the resilience of the domestic economy as he indicated that the local economy has been improving and the financial system overall gaining in resilience. Alex Joiner and Alexandra Veroude of BAML said in their March 24 research note titled “A shift in the political landscape?” that they’ve tracked recent developments in Australia and point out that business credit growth momentum has paused in recent months there.

Reserve bank of australia – Double dissolution may favor Australia’s business sector over medium term

Joiner and Veroude point out that Australian Prime Minister Malcolm Turnbull put the Senate on notice and that after being continually frustrated by the Senate’s recalcitrance in passing key legislation, the government...