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High Australian dollar boosts household spending power: RBA
16 Feb, 2012 06:37:56
SYDNEY, Feb 16 (Asia in Pulse) - The high value of the Australian dollar has boosted the spending power of households the past decade, the Reserve Bank of Australia (RBA) says.
RBA Deputy Governor Phillip Lowe on Thursday said households were reaping the benefit of the currency's high value.

He said that while household incomes had grown by around 60 per cent in the past decade, the Australian dollar's rise meant that the price paid for many manufactured goods had remained, on average, virtually unchanged.

"The stable prices for many goods, combined with strong disposable income growth, means there is more disposable income to be spent on services," he said in an address to the Committee for Economic Development of Australia (CEDA) in
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