The Australian Financial Review --- Page: 2-3 : 18 August 2007 Original article by Adrian Rollins
LexisNexis Summary
Glenn Stevens, governor of the Reserve Bank of Australia, told a Parliamentary committee he did not regret raising interest rates. Stevens dismissed concerns that the Australian economy could be derailed by volatile sharemarkets. He refused to dismiss the chance of another interest rate rise in November 2007, despite the looming federal election. Stevens claimed that even though household debt has risen, capacity to service loans has also improved. He noted that stock market turbulence does not have a great impact on "your average, everyday business".
