FED:Aust at "pretty good starting point" -RBA

AAP General News (Australia)
08-26-2011
FED:Aust at "pretty good starting point" -RBA

The Reserve Bank says the nation is at a pretty good starting point to face the uncertain
global economic conditions, as households continue to save more and cut back on debt.

RBA governor GLENN STEVENS also says corporate balance sheets are in good shape, Australia's
terms of trade are at a record high and unemployment remains low.

Speaking to a House of Representatives economics committee sitting in Melbourne today,
Mr STEVENS says our banks are strong, our currency is sound and our sovereign credit position
is in the international top tier.

AAP RTV cb/klm/wf

KEYWORD: RBA (CANBERRA)

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