April 3, 2014 / 2:55 AM / 4 years ago

Australia c.bank says too early to declare success in mining handover

BRISBANE, April 3 (Reuters) - Australia’s top central banker cautioned on Thursday that it was far too early to know if Australia will manage a slowdown in mining investment without suffering a slump, suggesting interest rates would need to stay at rock bottom for some time yet.

Reserve Bank of Australia (RBA) Governor Glenn Stevens said there were promising early signs that things might not turn out “too badly”.

“But early signs are just that: early. It is far too soon to think about counting any chickens yet,” Stevens told an American Chamber of Commerce business luncheon in Brisbane.

“Let’s also be clear that the capacity to fine-tune these outcomes is very limited,” he said.

Reporting by Wayne Cole; Editing by Paul Tait

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