Dr Philip Lowe – Assistant Governor (Economic) at the Reserve Bank of Australia

At a closed luncheon at the National Wine Centre Dr Lowe addressed an invited audience of senior academics and South Australian business leaders.

His address covered a wide range of economic issues such as currency, interest rates and trade. He emphasised that the Australian economy was now more dependent upon what happens in China than had been the case at any time in the past. Economic policy makers needed to have the right settings in place.

In the informal question time that followed, issues relating to India, the resources boom and productivity were raised. Inflation remained a key consideration for the Reserve Bank.

Dr Lowe did acknowledge that the rising Australia dollar would have an uneven impact on various sectors of the economy and that educational institutions could be affected by declining overseas enrolment numbers. Universities would have to be more innovative in how they provided educational services to overseas students. Overall, however, the medium term outlook was still encouraging with Australia emerging strongly from the global slowdown.

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