RBA governor Glenn Stevens has told a House of Representatives economic committee that although he is surprised the currency is not trading lower, it’s not significantly high, either.
“I’m surprised it’s not lower, but it’s not a significant error,” he said.
The RBA has continued to keep rates on hold during the past two months.
Stevens also said he does not see any sign the current mining boom is over.
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“I don’t myself think that, at least at this point, I’ve seen evidence to cause us to mark down that side of the outlook materially,” Stevens said, adding there are still projects in the pipeline.
This article first appeared at SmartCompany.