SYDNEY, March 25 The Australian dollar's decline
over the past year or so is playing an important role in helping
stabilise the economy, a top central bankers said on Tuesday,
though he would not be drawn on whether the currency was still
Asked if the dollar was "uncomfortably high", Reserve Bank
of Australia (RBA) Deputy governor Philip Lowe said only that it
had come down from the peaks seen in 2012 and early 2013, and in
line with Australia's declining terms of trade.
The central bank had run a long verbal campaign to get the
currency lower to assist the economy, but more recently has
toned down its rhetoric.
Asked about rising house prices, Lowe said the appreciation
was a natural response to stimulative monetary policy and would
only be of concern if it prompted wide scale speculation in
(Reporting by Wayne Cole; Editing by Shri Navaratnam)