Glenn Stevens

Stevens determined to stay as RBA chief

Stevens determined to stay as RBA chiefIt is believed that Glenn Stevens, the government of the Reserve Bank of Australia (RBA) is determined to stay on his top job even after he faces a an ongoing parliamentary inquiry into the note-printing scandal.

Mr Stevens has said that he regrets that the governance at the RBA's subsidiaries was not strong enough to prevent the scandals that tarnished the name of the country's central bank. He informed that the joint committee on the Australia commission for law enforcement integrity that the two companies involved in the scandal has carried out a lot of work to reform their policies.

Australian Dollar falls following hopes of a rate cut

Australian Dollar falls following hopes of a rate cutThe Australian national currency has fallen against the US dollar after the Bank of Australia indicated that it might consider reducing interest rates in the country.

Reserve Bank of Australia Governor Glenn Stevens expressed the central bank would take steps when needed. He said in Tokyo that the central bank has policy "ammunition" left and will use it when requires. The comments, at the International Monetary Fund’s annual meeting in Tokyo, sparked hopes that the RBA might reduce interest rates in November.

RBA could have alerted police about note-printing scandal probe

RBA could have alerted police about note-printing scandal probeThe governor of the Reserve Bank of Australia, Glenn Stevens expressed that it may have been a sensible step to alert about an internal central bank probe into the note-printing scandal.

There are allegations against Mr Stevens and former RBA deputy governor Ric Battellino of corruption relating to the involvement of Note Printing Australia (NPA) and Securency International. The allegations are relating to the techniques used by the agents of the two firms, which are subsidiaries of the RBA to win note-printing contracts abroad.

Mining boom continues despite lower prices, says Clyne

Mining boom continues despite lower prices, says ClyneNational Australia Bank boss Cameron Clyne has said that the boom in the investments in mining projects continue even as the prices of commodities have fallen in global markets.

He added that there is a significant of projects even as the price of commodities has fallen over the years. There are concerns that the rising prices will force more companies to follow BHP Billiton and cancel major projects in the country.

Australia fighting its way back to recovery

Glenn-StevensAustralia has probably been one of the economies who held its foot tightly in the tough times of Recession. Glenn Stevens, the governor of Reserve Bank of Australia mentioned that the challenge for Asia and Australia to manage the expansion, which is not going to be less but huge. He believed that the financial crisis is over except for what he calls a ''North Atlantic crisis''.

When grilled by federal MPs, the Reserve Bank governor talked about confidence heading back into a resources boom for Australia.

Central banker warns Australians of higher interest rates

Reserve Bank of Australia governor Glenn StevensSydney  - Stimulus spending will need to be curbed and interest rates rise as the economy quickens after the mildest downturn in recent times, Reserve Bank of Australia governor Glenn Stevens said Monday.

"In due course, both fiscal and monetary support will have to be unwound as private demand increases," Stevens told a parliamentary committee.

Prime Minister Kevin Rudd said a year ago that Australians were in for their worst recession since the Great Depression of 1930s.




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