Economists told to ‘chill out’ as Australian dollar strengthened

The Australian dollar was one of the top performers yesterday as it gained over 1% against sterling and 0.7% on the US dollar. Reserve Bank of Australia Governor Glenn Stevens stated that the potential growth rate has been dropped from 3.00 to 2.75%, but he told economists to ‘chill out’, enjoy the festive season and that the central bank will reassess the situation in February. The construction work data was out early this morning and it came out much worse than expected which won’t help those Australian economists chill out.

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