Consumer spending will increase in long term states RBA
Article by Mozo
Governor of the bank, Glenn Stevens, addressed a crowd of financial experts at the Anika Foundation Luncheon and claimed: "We could then reasonably expect to see consumption record more growth than it has in the past few years.
"After all, it is very unusual for real consumption per person not to grow."
He added, however, that economists cannot predict exactly when growth might return, and said that the recovery would depend on a plethora of other economic issues.
At the end of last week, the Commonwealth Bank of Australia claimed that the RBA would delay any adjustments to interest rates to encourage domestic demand.
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