RBA pins high hopes on a low Aussie dollar

The RBA's assistant governor argues the decline in the exchange rate as the resources boom transitions from the investment phase to production will help achieve balanced growth.

The past decade saw the Australian dollar appreciate by around 50 per cent in trade-weighted terms (Graph 1).[1] The appreciation was an important means by which the economy was able to adjust to the historic increase in commodity prices and the unprecedented investment boom in the resources sector.[2]

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