March 26, 2014 / 4:47 AM / in 4 years

RBA governor says expects Australian dollar to weaken

HONG KONG, March 26 (Reuters) - Australia’s top central banker said on Wednesday he expects the country’s currency to weaken, given assumptions of slowing terms of trade.

Reserve Bank of Australia Governor Glenn Stevens, during a question-and-answer sesssion after speaking at the Credit Suisse Investment Conference in Hong Kong, also said he would be reluctant to draw lines of sand in foreign exchange markets. The central bank had recently toned down calls for a lower currency, perhaps in part because rising import prices had contributed to a higher-than expected reading for inflation in the fourth quarter of last year. (Reporting By Saikat Chatterjee; Editing by Eric Meijer)

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