The Reserve Bank says a lower Australian dollar would help rebalance the economy, but it accepts that's hard to achieve at the moment.
RBA assistant governor for the financial market Guy Debelle said that while most central banks want their currencies lower, relative pricing makes it impossible for all currencies to depreciate at the same time.
"We would welcome a lower exchange rate, like everyone else, in helping rebalancing our economy, but not everyone can have that," he told a foreign exchange conference in Sydney on Thursday.
The Australian dollar had leapt almost one US cent, to 75.60 US cents, by 7am on Thursday (AEDT) after the US Federal Reserve lowered its interest rate expectations for the year.
Share
