Reserve Bank of Australia (RBA) governor, Glenn Stevens, says interest rates continue to be more important in managing the economy than fiscal policy. While apparently downplaying the significance of the May 2008 Budget in the campaign against inflation, Stevens said Australia's fiscal position would be envied by countries throughout the world. Australian Treasurer, Wayne Swan, has quoted from a Goldman Sachs Australia report that suggested budget policy is starting to move in tandem with interest rates policy.
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