The following is quoted from the Australian
"
RESERVE Bank governor Glenn Stevens says he doesn't regret raising interest rates despite this week's market crash.
"I don't have any reservations about last week's decision, but these financial events obviously bear close watching," he said.
"You can't really go back and remake decisions on the basis of information that wasn't available then."
Mr Stevens was giving testimony today before the house of representatives standing commiteee on economics, finance and public administration.
He said it had been a little difficult to read the trend in inflation in recent time.
"It has been a little bit difficult to read what the current trend in inflation is over recent quarters," he said.
"
He said - "You can't really go back and remake decisions on the basis of information that wasn't available then." As the Head of RBA, he does not know what happening in the financial market, such as subprime mortgages, hedge funds.... How can suddenly all the "basis of information" became available over a week?
"Australia economy is strong, unemployment is low, no debt (government), interests rate is high; Amercia may drop their rate, they have big **** problem with everything, economy, wars."... Suddenly, Ausie Dollar buy less Us Dallar.... Everthing seems out of logic, does not it?
"
RESERVE Bank governor Glenn Stevens says he doesn't regret raising interest rates despite this week's market crash.
"I don't have any reservations about last week's decision, but these financial events obviously bear close watching," he said.
"You can't really go back and remake decisions on the basis of information that wasn't available then."
Mr Stevens was giving testimony today before the house of representatives standing commiteee on economics, finance and public administration.
He said it had been a little difficult to read the trend in inflation in recent time.
"It has been a little bit difficult to read what the current trend in inflation is over recent quarters," he said.
"
He said - "You can't really go back and remake decisions on the basis of information that wasn't available then." As the Head of RBA, he does not know what happening in the financial market, such as subprime mortgages, hedge funds.... How can suddenly all the "basis of information" became available over a week?
"Australia economy is strong, unemployment is low, no debt (government), interests rate is high; Amercia may drop their rate, they have big **** problem with everything, economy, wars."... Suddenly, Ausie Dollar buy less Us Dallar.... Everthing seems out of logic, does not it?