RBAs Kent: AUD did not fall as much as implied by terms of trade

Speech by Christopher Kent, Assistant Governor, Economic, speaking at the Bloomberg Breakfast Address in Sydney

• Reasonable prospect of sustaining economic growth in Australia
• Says plausible terms of trade will stabilise given rise in commodity prices this year
• Says more than three quarters of expected fall in mining investment is behind us
• Largest drag on GDP growth from mining is now past
• Says reasonable prospect for further decline in unemployment
• Sees good prospect for gradual lift in wages growth, inflation
• AUD did not fall as much as implied by terms of trade, due to global policy easing
• Says outlook for Chinese economy remains a key source of uncertainty

Full text is here:

After the Boom

This from Kent is bullish on the Australian economy, and you'll note his comment on the Australian dollar - he (and the bank) would like it fall further. Whether he gets what he would like though is another matter entirely.