[RBA STEVENS Q&A SESSION] doesn't sound particularly gloomy, with the central bank Governor saying that the speed of the global contraction may be abating. Stevens adds that the global situation isn't as dire as it was; and says there are clear signs of pick up in the Chinese economy. On the local front; Steven expects inflation to decline over the next two years, and otherwise notes a noticeable pick up in household lending, says there has been a very big decline in rates and comments mortgage rates are very low
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