Prime Minister Tony Abbott believes it is appropriate for the Reserve Bank of Australia governor to comment on the Australian dollar.
Prime Minister Tony Abbott says he is comfortable with the central bank governor’s comments on the Australian dollar.
Reserve Bank of Australia governor Glenn Stevens says he’d prefer to see the dollar closer to 85 US cents than 95 US cents.
Mr Abbott was quizzed on the comments following a Council of Australian Government meeting on Friday.
He said the market should determine the value of the dollar, and doesn’t believe anyone should try to buck the market.
“That doesn’t mean the Reserve Bank shouldn’t from time to time prudently involve itself in the market to encourage what it thinks is the right market developments,” Mr Abbott told reporters in Canberra.
“I’m very comfortable with what the governor has to say and I don’t believe it’s appropriate for me to add to it or to subtract from it.”