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Reserve Bank of Australia (RBA)'s Alex Heath, Head of Economic Analysis Department, speaking at a mining industry conference:
- Says Chinese demand for resources to remain strong in long run
- Australia competitive in range of commodity exports
- China demand for steel yet to peak given urbanisation, shift to consumption
More:
- Australian mining investment drop to drag on growth
- China's huge appetite for commodities to continue
- Harder for China to maintain growth rate over time
- AUD remains above most estimates of fundamental value
- Iron ore, coal to make positive contribution to GDP
- Mining investment fall a significant drag on GDP
–
Full speech is here: The Domestic Outlook and the Role of Mining
AUD barely moving … 0.8624 and thereabouts …. down a couple of tics or so
(ps. USD/JPY and yen crosses continuing to dribble lower also)
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